Sensex rises 121 points to 33,924, Nifty at 10,492 level; Reliance Naval extends gains

The Sensex and Nifty rose in early morning trade tracking their Asian peers which touched their decade peak on positive China manufacturing data.

While the Sensex was trading at 33,924, up 121 points, Nifty rose 56.45 points to 10,492 level.       

Of 30 Sensex  stocks, 28 were trading higher. ONGC (1.64%), M&M (1.27%) and Dr Reddy's (0.86%) were the top gainers on Sensex.

Market breadth was positive with 1,200 stocks rising against 397 falling on the BSE. On the BSE, NLC India (9.22%), Reliance Naval (7.21%) and Unitech (5.40 %) were top gainers.

Reliance Naval extended its gains after the stock closed 38.68% or 19 points higher to 68.30 on the BSE.

While 130 stocks hit their 52 week highs on BSE, 18 stocks were trading  near their 52 week lows on the BSE.

The Infosys stock was trading 0.23% higher at 1036 level as new CEO Salil Parekh is set to take charge of the Bengaluru-based firm today.

Global markets

Asian shares scaled a decade peak on Tuesday after a survey of Chinese manufacturing proved surprisingly upbeat, while the euro lurked within striking distance of its 2017 top against an ailing US dollar.

Oil prices had their highest January opening since 2014 on Tuesday, with Brent and WTI crude prices rising to mid-2015 highs, supported by ongoing supply cuts led by OPEC and Russia as well as strong demand.

US West Texas Intermediate (WTI) crude futures CLc1 were at $60.64 a barrel at 0220 GMT, up 22 cents, or 0.4 percent, after hitting a June 2015 high of $60.68 earlier in the day.