Sensex extends winning streak for 5th day, up over 100 points on GDP data

Mumbai: Building on gains for the fifth straight session, the benchmark Sensex gained over 116 points to 26,769.32 in early trade Thursday on sustained buying by participants, particularly domestic institutional investors.

Indian economy accelerating to 7.3 percent in the September quarter and positive Asian indices propped the benchmark Sensex, brokers said.

The 30-share index, which had gained 792.64 points in the previous four sessions, was up 116.51 points, or 0.43 percent, at 26,769.32, led by oil & gas, realty, consumer durables, PSU, banking and capital goods, rising by up to 0.54 percent.

The NSE Nifty was quoting higher by 20.50 points or 0.25 percent, at 8,245.

Sentiments got a boost after India stayed put as the fastest growing major economy with GDP growth at 7.3 percent in the September quarter of the current fiscal, pushed mainly by farm output, brokers said.

A firming trend at other Asian markets following an OPEC deal to cut oil output for the first time in eight years, sent crude prices soaring almost 10 percent, they said.

Globally, US oil prices climbed USD 4.21 to USD 49.44 a barrel in yesterday's trade.

Hong Kong's Hang Seng was up 0.82 percent while Shanghai Composite Index rose 0.65 percent in early trade. Japan's Nikkei surged 2.26 percent.

The Dow Jones Industrial Average in the US ended 0.01 percent higher in yesterday's trade.