Sensex gains 140 points in early trade

Sensex gained nearly 420 points in last two sessions,rose further by 140.20 points to trade at 17,618.35.

Extending gains for the third straight day,the BSE benchmark Sensex rose by over 140 points in early trade today on sustained buying by funds and retail investors,tracking a firming global trend.

The 30-share barometer,which gained nearly 420 points in the last two sessions,rose further by 140.20 points,or 0.80 per cent,to trade at 17,618.35.

All sectoral indices,led by metal,banking and IT,were trading in positive zone with gains of up to 0.68 per cent.

The wide-based National Stock Exchange index Nifty also moved up by 43.25 points,or 0.81 per cent,to 5,361.15.

Brokers said continued buying by funds and retail investors amid a firming trend in Asian markets,following overnight gains in the US markets on strong manufacturing data,bolstered the trading sentiment.

Meanwhile,in Asia,Hong Kong8217;s Hang Seng Index rose by 0.57 per cent,while Japan8217;s Nikkei index was up by 0.41 per cent.

The US Dow Jones Industrial Average gained 0.40 per cent in yesterday8217;s trade. PRE-OPEN: Indian stocks to watch-April 3

GLOBAL STOCK MARKETS ROUNDUP

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Asian shares rose on Tuesday on the back of strong gains in global equities overnight,after solid manufacturing data from the United States,and as leading Asian exporters offset signs of mild recession in Europe.

US. stocks started the second quarter with a bang on Monday,with the Samp;P 500 climbing to a fresh four-year high as manufacturing data from the United States and China helped support the outlook for economic growth.

KEY EVENTS TO WATCH

The government is expected to issue formal orders on Tuesday to Coal India to sign fuel supply pacts with private power producers,ignoring opposition from some of the company8217;s independent directors that such a move would be bad for the company.

India8217;s Supreme Court is scheduled to rule on petitions seeking a review of a February order that asked the government to revoke all 122 licenses granted in a scandal-tainted 2008 sale. All Day

RBI pre-policy industry,non-bank finance companies meeting 0630 GMT

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Renault India launch 8211; Renault PA8217;s India unit launches its latest new model in India. 0630 GMT

Bharat Heavy Electricals Ltd to declare its provisional earnings for the fiscal year 2011/12 0745 GMT

INDIAN STOCKS TO WATCH

India8217;s stock market regulator will allow domestic stock bourses to list subject to certain conditions,including limits on ownership so that 51 percent of each exchange is held by the public.

India8217;s largest two-wheeler maker Hero MotoCorp reported March sales rose 2.41 per cent to 528,290 vehicles from a year ago.

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The Reserve Bank of India has eased its overseas direct investment norms by waiving the need for Indian entities to seek its approval to open foreign currency accounts abroad.

India8217;s Kingfisher Airlines will resume payment of staff salaries starting this week after tax authorities unfroze its bank accounts,the airline8217;s chairman and managing director,liquor baron Vijay Mallya,said in a letter to employees.

Firestone Energy rejected an offer from Tata Power to invest in a joint venture with Sekoko Resources to develop a coal mine in the Waterberg area of South Africa,saying the offer under-valued the assets.

Rupert Murdoch8217;s Star TV has won the bid to broadcast Indian cricket for six years for a fee of around 757.6 million,officials said on Monday.

OTHER FACTORS TO WATCH

Indian rupee seen up on bunched inflows

Indian bond yields seen up; debt sales eyed

Yen firmer,Aussie eyes RBA rate decision

Oil rises 2 pct on N.Sea delays,US data

Foreign institutional investor flows

For closing rates of Indian ADRs