Sensex climbs over 77 points ahead of RBI policy

Mumbai: The benchmark BSE Sensex rose over 77 points in early trade on August 4 on sustained buying by investors ahead of the Reserve Bank's monetary policy review amid better-than-expected Q1 earnings by Hero MotoCorp.

The 30-share index, which had gained 727.83 points in the previous four sessions, rose 77.66 points, or 0.27 per cent, to 28,264.72, with realty, auto, consumer durables and oil & gas sector stocks leading the rise.

On similar lines, the NSE Nifty was up 22.10 points, or 0.25 per cent, at 8,565.15. Brokers said sustained buying by funds and retail investors ahead of RBI's monetary policy to be announced later in the day, influenced market sentiment. Stocks of two-wheeler market leader Hero MotoCorp climbed 2.51 per cent to Rs 2,765.70 after the company on August 3 reported a 33.33 per cent rise in net profit at Rs 750.34 crore for the June quarter.

They said, however, a weak trend at other Asian markets in line with overnight losses at US markets capped the gains in the domestic market here. In Asia, Japan's Nikkei was trading lower 0.42 per cent while Hong Kong's Hang Seng lost 0.31 per cent in early trade on August 4. The US Dow Jones Industrial Average ended 0.52 per cent lower in on 3 August’s trade.