Bourses continue firm; BSE Sensex up by 78 pts

Mumbai, Feb 5: The 30-shares Bombay Stock Exchange (BSE) Sensex shot up by about 78 points at 14,481 points and the S&P CNX Nifty index rose by 19 points at 4,202 points from the previous close at the opening session today.

The stock market continued firm as the finance sector led the rally at both BSE and NSE on sustained buying interest, notwithstanding rising inflation rates.

Besides the finance sector, shares from the power sector were in the limelight while the Fast Moving Consumer Goods (FMCH), Engineering, and IT shares were weak on selling pressure, dealers said.

There were expectations that the market may witness an impact over the rising inflation rate after the Prime Minister Manmohan Singh expressed concern, when the rate stood at 6.11 per cent for the week ended January 20.

Overseas, mainly Tokyo and Hongkong markets opened on a firm note today.

UNI