Sensex surges 132 points on buying by funds, better earnings

Continuing its upward journey for the fifth consecutive session, the benchmark BSE Sensex gained 132 points in early trade today as funds and retail investors enlarged positions on hopes of pro-growth Budget and better third quarterly earnings by some bluechip companies.
Besides, a firming trend at other Asian markets buoyed trading sentiments here.
The 30-share index was trading higher by 131.93 points, or 0.45 per cent, at 29,226.86 with all the sectoral indices, led by realty, metal, oil & gas and banking, leading the rise.
The gauge had gained 867.54 points in the previous four sessions.
Also, the National Stock Exchange index Nifty shot up by 34.90 points, or 0.40 per cent, at 8,840.40.

Brokers said sustained buying by foreign funds and retail investors on expectations that the forthcoming Budget will be growth-oriented and the government will accelerate reforms, buoyed the sentiments.

Meanwhile, overseas investors have pumped in over Rs 10,000 crore in Indian capital markets in the first two weeks of this month.
Further, a better trend at other Asian markets following record-closing in US markets on Friday, boosted sentiments here, they added.
Among other Asian markets, Hong Kong's Hang Seng was up by 0.14 per cent, while Japan's Nikkei gained 0.66 per cent in early trade today.