Sensex up by 192 pts on global cues

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Sensex up by 192 pts on global cues

US employers have cut 80,000 jobs in March, the biggest decline, in employment in the coming five years. The market is driven by global trend and European markets, which will open at midday, expected to influence the market trend.

CJ: merinews network

Mon, Apr 07, 2008 21:31:03 IST

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National Stock Exchange :

TRACKING BUOYANT global cues, the Bombay Stock Exchange benchmark Sensex recovered by 192 in early trade amid concerns over high inflation and fears of stringent monetary measures by the central bank.

Market players said investors seem apprehensive regarding any hike in the Cash Reserve Ratio (CRR) by Reserve Bank to calm inflation would have adverse impact on the market.

The BSE 30-share index opened on a promising note and surged to 15,534.82 at 1030 hours, 191.70 points higher from its previous close of 15,343.12.

The broader 50-share S&P CNX Nifty of the National Stock Exchange gained 53.45 points to 4,700.45 at 1030 hours from its last close of 4,647.00.

Meanwhile, weak US job data released on Friday indicated further weakness in the economy.

US employers have cut a surprisingly large 80,000 jobs in March, the biggest decline,

in employment in five years.

The market is only driven by global trend and European markets, which will open at midday, are expected to influence the market trend, they added.

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