BSE Sensex up over 106 pts, NSE Nifty rises too, Future Group's Kishore Biyani eyed over Spykar

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Foreign investors sold Rs 1.82 bn of stocks, while domestic institutions bought shares worth Rs 246.7 mn. (Reuters) Foreign investors sold Rs 1.82 bn of stocks, while domestic institutions bought shares worth Rs 246.7 mn. (Reuters)
SummarySensex continued its rising streak for the third straight session.

Continuing its rising streak for the third straight session, the BSE benchmark Sensex today rose by over 106 points in early trade on sustained buying by funds and retail investors amid a firm trend in other Asian bourses with NSE Nifty following suit.

The 30-share index, which had gained 167.57 points in the past two sessions, rose further by 106.70 points, or 0.54 per cent, to 19,742.42 points.

The wide-based National Stock Exchange (NSE) Nifty moved up by 31.30 points, or 0.52 per cent, to 5,971.00, with all sectoral indices led by refinery, realty, and IT gaining up to 0.88 per cent.

Brokers said continued buying by funds as well as retail investors tracking a firming trend on other Asian bourses, mainly buoyed the trading sentiment here.

Asian shares edged higher today, boosted by rising global equities overnight on an improving global economic scenario, they added.

Among Asian markets, Hong Kong's Hang Seng rose by 0.30 per cent, while Japan's Nikkei by 0.77 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.39 per cent higher yesterday.

Morning Call

* Nifty futures on the Singapore Exchange up 0.18 percent, while the MSCI-Asia Pacific index, excluding Japan , rises 0.69 percent.

* Asian shares edged higher on Wednesday, buoyed by rising global equities overnight on an improving global economic outlook, while the yen resumed its decline.

* Foreign investors sold 1.82 billion rupees of stocks, while domestic institutions bought shares worth 246.7 million rupees of stocks on Tuesday, when the BSE index rose 0.69 percent.

* Traders will eye Reliance Industries shares after the company and UK partner BP planned joint investment of more than $5 billion over the next three to five years to boost declining output at a key natural gas field off India's east coast.

GLOBAL MARKETS ROUNDUP

* Nifty futures on the Singapore Exchange rose 0.21 percent. The MSCI-Asia Pacific index, excluding Japan rose 0.7 percent.

* Asian shares edged higher on Wednesday, buoyed by rising global equities overnight on an improving global economic outlook, while the yen resumed its decline.

* US stocks rose on Tuesday as this year's ongoing surge in merger activity suggested investors were still finding value in the market even as indexes closed in on all-time highs.

INDIAN STOCKS TO WATCH

FINANCIAL/REGULATORY

* Finance minister P. Chidambaram may stick to the initial budget estimates of fiscal deficit at 5.1% for 2012/14 from the revised target of 5.3 percent, a top official said.

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