BSE Sensex gains 93 points in early trade,NSE Nifty up by 22 pointshttps://indianexpress.com/article/news-archive/print/bse-sensex-gains-93-points-in-early-trade-nse-nifty-up-by-22-points/

BSE Sensex gains 93 points in early trade,NSE Nifty up by 22 points

30-share index rose by 93.40 points,or 0.51 per cent,to 18,319.88 points.

BSE Sensex today recovered by over 93 points in early trade on emergence of buying by funds and retail investors amid a firming trend in other Asian bourses.

Besides,covering-up of short positions by speculators also helped trading sentiments to improve.

Snapping a five-day losing streak,the 30-share index rose by 93.40 points,or 0.51 per cent,to 18,319.88 points,with all the sectoral indices,led by realty and metal,trading in positive zone,rising up to 0.98 per cent. The index had lost nearly 815 points in the previous five sessions.

The wide-based Nifty of the National Stock Exchange,regained 5,500 points level by recovering 22.15 points,or 0.40 per cent,to trade at 5,517.25.

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Brokers said emergence of buying by funds as well as retail investors at prevailing levels amid a better trend on other Asian bourses after US markets closed at fresh record high yesterday,mainly buoyed the trading sentiment here.

In other Asian markets,Japan’s Nikkei index rose by 0.73 per cent,while Hong Kong’s Hang Seng gained 0.34 per cent in early trade today. The US Dow Jones Industrial Average ended 0.41 per cent higher yesterday.

* Nifty futures on the Singapore Exchange up 0.55 percent and the MSCI-Asia Pacific index excluding Japan higher 0.37 percent.

* Asian shares edged higher on Wednesday after a strong session on Wall Street overnight while the yen remained under pressure,with tensions on the Korean peninsula seen capping gains for riskier assets.

* Foreign funds sold shares worth 17.25 billion rupees ($316.19 million) in the previous five sessions,provisional exchange data showed,amid worries about the economy and on lingering concerns about political stability.

* Both of India’s key indexes are now at their lowest closing levels since Sept. 13,2012,when the government raised diesel prices,kick-starting bold reforms that included opening up the aviation and retail sectors further to foreign investors.

* Also on watch,the country’s merchandise trade data for March and FY13 car sales data,due to be released later in the day.

Indian stocks to watch – April 10

GLOBAL MARKETS ROUNDUP

* Nifty futures on the Singapore Exchange rose 0.55 percent and the MSCI-Asia Pacific index excluding Japan was up 0.37 percent.

* Asian shares edged higher on Wednesday after a strong session on Wall Street overnight while the yen remained under pressure,with tensions on the Korean peninsula seen capping gains for riskier assets.

* U.S. stocks advanced on Tuesday,with the Dow closing at a record high on a rally in cyclical shares and as earnings season started to heat up.

FACTORS TO WATCH

* India will release the country’s merchandise trade data for March,which will also show the numbers for the full fiscal year between April 2012 and March 2013. (0730 GMT)

* India FY13 car sales data (0600 GMT)

* Embattled Sahara boss Subarata Roy is due to appear for a hearing at market regulator SEBI in Mumbai to provide details on his assets and those of two Sahara companies,which the regulator wants to freeze in its ongoing battle with the mysterious and unlisted conglomerate.

* Indian Prime Minister Manmohan Singh,accompanied by a ministerial delegation,to visit Germany during April 10-12.

INDIAN STOCKS TO WATCH

* Sistema cuts India spending until break-even

* Coal India’s April 1 stocks down 18.3 pct on yr

* Tough road ahead for India carmakers as boom market crashes

SC relief for Vedanta,Tata Steel,Essar Steel in entry tax matter

* Yamaha to develop $500 bike in India for global markets

* Jindal Stainless and Posco sign stainless steel deal

* BHEL to trim hiring on gloomy outlook.

* Pearson acquires 50 pct stake of Educomp in IndiaCan

* Ambani brothers cosying up for one more deal

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* Tata Steel may sell off some UK assets on weak demand