Friday, June 30 2006 11:39 Hrs (IST) - World Time -

Mumbai: The benchmark BSE Sensex surged by 349 points in early trade today on the Bombay Stock Exchange, on heavy buying by foreign as well as domestic funds.

The Sensex gained by 349.42 points at 10,511.58.

Similarly, the National Stock Exchange index Nifty shot up by 105.70 points at 3103.60.

Trading sentiment turned bullish following an average 2 per cent rise in global stock markets.

Stock brokers said the hike of 25 basis points by the US Federal Reserve in interest rates, failed to have any negative impact on global markets.

The major gainers were L&T, Reliance Industries, TCS, Bajaj Auto, Infosys and Dr Reddy's Labs. Buying activity spilled over a wide front and pushed up all the 30 index related shares and 50 shares on the Nifty.