The benchmark BSE Sensex climbed 249 points in early trade on Tuesday, extending its weekend rally on continued buying amid a firming trend overseas after a slowdown in U.S. job creation dimmed expectations of an interest rate rise by the Fed this month. Moreover, services sector growing at its fastest pace in over three-and-half years in August and the rupee rising against the dollar also supported trading sentiment. The 30-share index surged 248.75 points or 0.87 per cent to 28,780.86 with all the sectoral indices led by realty, banking and auto trading higher. Brokers said continued foreign fund inflows and persistent buying by investors amid a firming trend overseas buoyed trading sentiment. A monthly PMI survey showing that India’s services sector growth touched the highest level in over three-and-a-half years of 54.7 in August, from 51.9 in July, too lifted the mood.

Source: The Hindu September 06, 2016 04:30 UTC