Friday, Oct 31, 2014

BSE Sensex up 54 points in early trade on Asian cues

Markets will trade range-bound after hitting consecutive record highs in the past two sessions, traders say. Markets will trade range-bound after hitting consecutive record highs in the past two sessions, traders say.
Press Trust of India | Mumbai | Posted: July 4, 2014 9:54 am

The benchmark BSE Sensex recovered nearly 54 points in early trade today on emergence of buying by funds and retail investors amid positive cues from other Asian markets.

The 30-share index, which had lost 17.46 points in the previous session, rose by 53.97 points, or 0.21 per cent, to 25,877.72, with stocks of healthcare, infrastructure, consumer durables, realty and power sectors leading the recovery.

On similar lines, the National Stock Exchange index Nifty rose 14.60 points, or 0.19 per cent, to 7,729.40.

Brokers said fresh buying by funds amid a firming trend in other Asian markets, after US markets surged to record highs on the back of upbeat jobs data and easing crude prices, also helped the Sensex trade in positive terrain.

They added that expectations from the upcoming Budget have also boosted the sentiment here.

Globally, US benchmark West Texas Intermediate crude for August delivery eased 17 cents to USD 103.89 while Brent crude fell six cents to USD 110.94 per barrel.

Among other Asian markets, Hong Kong’s Hang Seng was up by 0.26 per cent while Japan’s Nikkei gained 0.93 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.54 per cent higher in yesterday’s trade.

comments powered by Disqus
Featured ad: Discount Shopping