Sensex surges by 176 points in early trade

The BSE benchmark Sensex on Friday shot up by another 176 points in early trade, extending gains for the fourth straight session on continued buying by funds and retailers amid a firming trend in Asian markets.

The 30-share index rose further by 176.39 points, or 1.03 per cent, to 17,253.57. It had gained over 338 points in the past three sessions.

In a similar fashion, the wide-based National Stock Exchange Nifty index regained 5,200 points level to trade 49.75 points, or 0.96 per cent, higher at 5,208.05 points.

Brokers said apart from a firming trend on other Asian bourses, hopes of easing liquidity in the market after the RBI cut cash reserve ratio by 0.50 percentage point in its policy review on Tuesday, buoyed the trading sentiment.

In Asia, Hong Kong's Hang Seng Index rose by 0.13 per cent and Japan's Nikkei Index by 0.40 per cent in early trade on Friday.