Sensex up 74 points in early trade as govt steps up reforms

Extending gains for the third straight day, the benchmark BSE Sensex rose over 74 points in early trade today on sustained buying by funds and investors after the government stepped up economic reforms amidst a mixed trend on other Asian bourses.
The 30-share index, which had gained 430.51 points in past two sessions, rose further by 74.19 points, or 0.28 per cent, to 26,504.04 with stocks of consumer durables, metals, power, banking, IT and healthcare sectors moving up.
The National Stock Exchange index Nifty also moved up by 21.80 points, or 0.28 per cent, to 7,901.20.
Brokers said continued buying by funds and investors, after the government yesterday announced more reforms and recommended promulgation of an Ordinance to facilitate e-auction of coal blocks for private companies for captive use and allot mines directly to state and central PSUs, influenced sentiments.

Besides, revival of buying by foreign funds after remaining sellers for several sessions, supported the upside in stock prices, they said.
Among other Asian markets, Kong's Hang Seng index rose 0.04 per cent while Japan's Nikkei shed 0.72 per cent in early trade.
The US Dow Jones Industrial Average ended 0.12 per cent higher in yesterday's trade.