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Sensex up further

MUMBAI: The stock market rose for the fifth consecutive session on Thursday with the benchmark BSE Sensex gaining 129 points on strong global cues after the U.S. Federal Reserve assured of more steps to limit the impact of the subprime crisis.

Market sentiment was bolstered by a global turnaround, prompted by a statement from the U.S. Fed Chairman Ben Bernanke, promising measures to mitigate the adverse effects on the economy in the aftermath of recent financial market turmoil. The market also rose as foreign and retail investors rolled over positions to September series. Foreign institutional investors as well as local operators were either engaged in roll over of positions to next series of derivatives or in covering shorts at the last day of the futures and options contracts. — PTI

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