Sensex gains 114 points in opening trade ahead of Budget

Mumbai, Feb 28 (PTI) The BSE benchmark Sensex opened over114 points higher in opening trade today on the back ofincreased buying by foreign funds and retail investors aheadof Budget 2011-2012, which is slated to be announced later inthe day.

The 30-share index of the Bombay Stock Exchange, whichgained 68.50 points in the previous session, rose by another114.07 points, or 0.64 per cent, to 17,814.98 in the first fewminutes of trade today.

Similarly, the wide-based National Stock Exchange Niftyindex moved up by 33.40 points, or 0.62 per cent, to 5,336.95.

Brokers said continued buying by funds and retailinvestors on expectations of an investor-friendly Budget forthe year 2011-12 influenced the trading sentiment.

Capital goods, PSU, oil and gas, banking, realty andconsumer durables stocks were in keen demand, accounting formost of the gains on the Sensex.

Meanwhile, Hong Kong''s Hang Seng index was up by 0.39 percent, while Japan''s Nikkei index was down 0.22 per cent inearly trade today.