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Sensex Surges By 183 Pts

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The BSE benchmark Sensex surged by 183 points in early trade Friday on fresh buying in power, auto, consumer durables, realty, banking and metal counters on the back of firm Asian cues.

The BSE benchmark Sensex resumed higher at 15,868.78 points and hovered in a range between 16,043.68 and 15,866.63 before quoting at 16,019.65 at 1015 hours, a net gain of 183.18 points, or 1.16 per cent, from its previous close.

The NSE's 50-share Nifty also moved up by 51.75 points, or 1.09 per cent, to 4,798.10 at 1015 hours.

Interest rate-sensitive banking stocks rose ahead of the Reserve Bank of India's (RBI) mid-quarter monetary policy review in the afternoon Friday.

In the 30-member Sensex pack, 27 stocks rose and three registered a decline.

The major gainers in early trade were Bharti Airtel (up 3.56 per cent), Tata Power (3.37 per cent), Tata Motors (2.75 per cent), Jaiprakash Associates (2.36 per cent), Hindalco Industries (2.28 per cent), DLF (2.10 per cent), Bajaj Auto (2.03 per cent), M&M (2.02 per cent), BHEL (1.94 per cent) and ONGC (1.89 per cent).

Meanwhile, Asian shares edged higher in early trade as signs of strength in the US economy temporarily broke through the gloom over the European debt crisis that has driven a sell-off in riskier assets over the past three days.

The key benchmark indices in China, Hong Kong, Indonesia, Japan, Taiwan, Singapore and South Korea were up by between 0.01 per cent and 1.11 per cent.