Sensex extends gains, surge 112 points in early trade

Mumbai: Maintaining its winning streak for the fourth straight day, the benchmark BSE Sensex rose by another 112 points in early trade on January 20 on sustained buying by funds and retail investors amid a firming Asian trend.

The 30-share index, which gained over 915 points in the previous three sessions, rose by 112.16 points, or 0.40 per cent, to 28,374.17. All sectoral indices, led by metal and IT, were trading in the positive zone with gains up to 0.62 per cent. Also, the National Stock Exchange index Nifty was trading higher by 38.35 points, or 0.45 per cent, to 8,589.05.

Brokers said persistent buying by funds and retail investors after the RBI's rate cut last week coupled with encouraging Q3 earnings by some bluechip companies buoyed trading sentiments. Besides, a firming global trend in anticipation of the European Central Bank launching fresh stimulus also has a positive impact on the Asian market.

Among Asian bourses, Hong Kong's Hang Seng was higher by 0.76 per cent, while Japan's Nikkei shot up by 1.65 per cent in early trade.