The benchmark BSE Sensex rose over 82 points in early trade today on increased buying by funds and retail investors amid acceleration in economic reforms after the government recommended promulgation of an ordinance making significant changes in the Land Acquisition Act.
Rising for the third straight session, the BSE 30-share barometer rose by 82.57 points, or 0.30 per cent, to 27,478.30.
The National Stock Exchange index Nifty also edged higher by 21.95 points, or 0.26 per cent, to 8,268.25.
Brokers said sentiments remained firm over optimism on the growth front and the government’s resolve to use the ordinance route to push more economic reforms.
The government yesterday recommended promulgation of an ordinance making significant changes in the Land Acquisition Act, including removal of consent clause for acquiring land for five areas of industrial corridors, PPP projects, rural infrastructure, affordable housing and defence.
They said, however, foreign funds winding down for the end of the year and a weak trend at other Asian markets, capped the gains.
Among other Asian markets, Japan’s Nikkei shed 0.68 per cent, while Hong Kong’s Hang Seng fell by 0.56 per cent in early trade today.