Sensex jumps by 216 points; Nifty crosses 8,300 level

The benchmark BSE Sensex rose by over 216 points in early trade today on buying in banking, IT and oil stocks by funds and retail investors amid a mixed trend in Asian markets.
The 30-share index rose by 216.11 points, or 0.79 per cent, to 27,723.65 points with all the sectoral indices led by power, PSU and banking trading in positive zone with gains up to 1.10 per cent.
The barometer had gained 298.93 points in the previous five sessions.
The wide-based Nifty of the National Stock Exchange regained the crucial 8,300-mark by surging over 60.55 points, or 0.73 per cent to 8,344.55.

Brokers said continued buying by funds as well as retail investors, following push up in economic reforms by the government influenced the trading sentiment.
Major gainers which supported the benchmark were HDFC (1.79 per cent), ONGC (1.63 per cent), BHEL (1.60 per cent), ICICI Bank (1.49 per cent), NTPC (1.26 per cent), Axis Bank (1.16 per cent) and Infosys (0.72 per cent).
Gains of up to 1.5 per cent in Reliance, Tata Motors, HDFC Bank and ITC also supported the Sensex rise.
Among Asian markets, Hong Kong's Hang Seng rose by 0.78 per cent, while Japan's Nikkei fell 1.57 per cent in early trade today.