Sensex extend gains, rises 72 points in opening trade

Mumbai, Feb 15 (PTI) The BSE benchmark Sensex extendedits gains by adding 72 points in opening trade today oncontinued buying by foreign funds and retail investors.

The 30-share index of the Bombay Stock Exchange, whichrallied by nearly 740 points in the previous two sessions,rose by another 72.06 points, or 0.40 per cent to 18,274.26points in the first few minutes of trade today.

Likewise, the wide-based National Stock Exchange Niftyindex moved up by 18.45 points, or 0.33 per cent, to 5,474.45.

Brokers said sustained buying by funds and retailinvestors in stocks with strong fundamentals and covering-upof pending short positions by speculators mainly influencedthe trading sentiment.

Capital goods, consumer durables and power stocks were inkeen demand and accounted for most of the gains on the Sensex.

Stocks of ADA Group company, Rcom, however, were undersome pressure and fell by 1.80 per cent to Rs 95.65 in earlytrade. The firm had posted a 54.84 per cent decline in netprofit for the quarter ended December 31.

Meanwhile, Japan''s Nikkei index was up 0.05 per cent,while Hong Kong''s Hang Seng index shed 0.48 per cent inmorning trade today.