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Sensex up 188 points; realty, metal gain

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Agencies

Posted: Jan 30, 2009 at 1658 hrs IST

Mumbai The Bombay Stock Exchange benchmark Sensex on Friday shot up by nearly 188 points on good buying support by funds in blue-chip stocks after engineering major Larsen & Toubro announced attractive third quarter earnings.

After a weak opening, the bellwether index reversed the trend and advanced by 187.96 points to close at 9,424.24.

National Stock Exchange index Nifty also rose by 50.85 points at 2874.80.

Trading sentiment was bolstered by reports of a positive global trend amid reports the L&T, country's biggest engineering company, three-fold rise per cent rise in profit in the third quarter.

The major support to the market came in from sectors like realty, metal, oil & gas.

Brokers said the domestic funds bought into firms with earning potential such Reliance Industries, which touched a recent intra-day high of Rs 1334.80.

Realty sector index gained the most by 4.32 per cent at 1668.08 after the segment major DLF Ltd shot up by 7.39 per cent at Rs 177.20 and Unitech 3.04 per cent at Rs 32.15.

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