Sensex sees rise on positive Euro Zone deal

Mumbai, Oct 28: Nifty saw a moderate 3 % rise in opening trade on Oct 28 with Hindalco, Tata Motors and Sterlite emerging as the top gainers. The positive outcome of the successful European Union Summit reflected in the stock market as well. The BSE Sensex gained more than 450 points while the NSE Nifty maintained 5340 level since the opening trade.

The welcoming result of the Euro Zone talks that is likely to end the Greek debt crisis was reflected positively back home. The BSE Metal Index has maintained its top position in the buying list, rallying 5%. About 944 shares advanced as against 388 shares declined on National Stock Exchange.

On the global front, Asian markets like Nikkei, Hang Seng, Shanghai and Straits Times climbed 1-1.9%. Kospi and Taiwan were up 0.5%.

Among the largecaps that gained as much as 9% was Sterlite Industries, Jindal Steel, Jaiprakash Associates, Tata Steel. Tata Motors, however shot up 6-8%. The other heavyweights that maintained the positive trend was L&T and ICICI Bank that surged 5% each. Reliance Industries, HDFC, HDFC Bank, TCS, ONGC, SBI and BHEL gained 2-3.6%.

The Sensex was trading at 17,778.05, up 489.22 or 2.83% and the 50-share NSE Nifty jumped 2.9% or 149 points to 5,351.

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