Sensex up 41 points on rate cut hopes

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Sensex rose 41 pts in early trade on sustained buying by participants on hopes RBI will cut interest rate. (Reuters) Sensex rose 41 pts in early trade on sustained buying by participants on hopes RBI will cut interest rate. (Reuters)
SummarySensex rose 41 pts in early trade on sustained buying by participants on hopes RBI will cut interest rate.

The BSE benchmark Sensex today rose over 41 points in early trade on sustained buying by participants on hopes Reserve Bank of India will cut interest rate tomorrow and better-than-expected corporate earnings.

The 30-share barometer, which had gained 179.75 points in the previous session on Friday, rose by 41.10 points, or 0.20 per cent, to 20,144.63, with realty, banking and auto sector stocks leading the rise.

Similarly, the wide-based National Stock Exchange index Nifty gained 9.40 points, or 0.15 per cent, to 6,084.05.

Brokers said increased buying by funds on hopes that the RBI may announce a rate cut in its monetary policy review tomorrow, influenced the trading sentiments.

Besides, better-than-expected quarterly earnings by Maruti and Reliance Power and a firming trend in the Asian region also had a positive impact, they said.

Meanwhile, in Asia, Japan's Nikkei was up by 0.70 percent, while Hong Kong's Hang Seng gained 0.35 per cent.The US Dow Jones Industrial Average ended 0.51 per cent higher on Friday.

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(Reuters):GLOBAL MARKETS ROUND UP

Nifty futures on the Singapore Exchange rose 0.1 percent. The MSCI-Asia Pacific index, excluding Japan was down 0.13 percent.

South Korean shares were hit by earnings worries, dragging down the broader Asian share index, but improving economic prospects in Europe and solid U.S. earnings underpinned sentiment.

The Standard & Poor's 500 index closed above 1,500 for the first time in more than five years on Friday as strong U.S. earnings reports helped the benchmark extend its rally to eight days.

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