Markets open strong, power stocks gain
Markets open strong, power stocks gain
The benchmark Sensex surged to 76.58 points at 14014.23 in early trading.

Mumbai: Continuing with its upward journey, the benchmark Sensex surged to 76.58 points at 14014.23 in early trading on Wednesday on sustained buying by funds and investors in blue chip stocks, sparked by firming global markets.

The 30-share index, Sensex, which gained 63.32 points in the previous session, shot up by another 76.58 points at 14014.23 in the first five minutes of trading.

Similarly, the wide-based National Stock Exchange index Nifty was up by 20.45 points at 4036.20, a level never seen before.

Gainers in the morning session were ITC, Reliance Comm, SBI, Reliance Energy, Reliance Ind, Jet Airways, Tata Power, HDFC, HPCL, Tata Steel, Maruti, HDFC Bank, Gujarat Ambuja Cements, Bharti, HLL, Satyam, ONGC and Parsvnath.

However, Suzlon, Hero Honda and Gail lost ground.

Asian markets were trading mixed. Japan's Nikkei was up 0.27% or 44.11 points at 16,309.87. Taiwan's Taiwan Weighted gained 0.60% or 45.93 points at 7,655.83. Hong Kong's Hang Seng surged 0.79% or 149.44 points at 19,093.63. However, South Korea's Seoul Composite plunged 1% or 14.25 points at 1,406.34. Singapore's Straits Times was down 0.18% or 5.23 points at 2,896.76.

Wall Street gained on easing wage pressures; the Dow Jones industrial average rose 47.75 points, or 0.39%, to 12,331.60.

Light, sweet crude settled down 1 cent at USD 62.43 a barrel on the New York Mercantile Exchange.

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