Sensex gains 135 pts on global cues

The BSE benchmark index Sensex on Friday shot up by 135 points on funds inflow and buying by investors after a firming trend in global markets.

The 30-share index spurted by 135.36 points, or 0.75 per cent, to 18,289.35 points.

The barometer touched the day's high of 18,423.06 as some investors were seen covering their pending long positions in wake of fresh rise.

The wide-based Nifty of the National Stock Exchange rose by 42.35 points, or 0.77 per cent, to 5,564.30 on fresh buying in consumer durable, power and capital goods sectors. The Nifty traded above 5,600 level in intra-day trade.

Brokers said buying activity picked up following a firming trend in global markets in line with overnight gains on the US markets on better than expected economic data with new jobless claims falling to their lowest since March 2008.

Foreign Institutional Investors bought a net 232.4 million dollar of Indian stocks as on February 14, taking their investment this year to 4.5 billion, a market regulator data showed.

Market major Reliance Industries rose by 0.71 per cent to Rs 817.90 and Infosys by 1.63 per cent to Rs 2,950.60 on expectations the improvement on the overseas front would boost their business.

The consumer durable index gained the most by rising 4.21 per cent to 6,647.43 followed by power index by 2.92 per cent to 2,363.28.