Mumbai: Extending gains for the fourth day in a row, the BSE benchmark Sensex rose by hefty 269 points in early trade on Friday on sustained buying by funds and retailers on hopes that the government will announce economic reforms to revive the economy.
The Finance Ministry proposing a monetary limit for invoking the controversial General Anti-Tax Avoidance Rules (GAAR) in its draft guidelines issued late last night too buoyed the trading sentiments, traders said.
The 30-share barometer, which had climbed by 108 points in the past three sessions, rose by another 269.49 points, or 1.58 percent, to 17,260.25.
All sectoral indices, led by banking and capital goods, were trading in the positive zone with gains of up to 1.76 percent. The wide-based National Stock Exchange index Nifty also moved up by 78.20 points, or 1.57 percent, to 5,227.35.
Brokers said expectations that capital inflow would pick up after Prime Minister Manmohan Singh who himself has taken over the Finance portfolio will initiate steps to prop up the economy buoyed the trading sentiments.
In the Asian region, Japan's Nikkei was up by 1.50 percent, while Hong Kong's Hang Seng index gained 1.96 percent in early trade.


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