Sensex up 59 points in early trade
The benchmark BSE Sensex rose about 59 points in early trade on Wednesday on increased buying by funds and retail investors amid a mixed trend in other Asian markets. The 30-share index moved up by 58.90 points, or 0.23 per cent, to 25,427.80 with stocks of power, metals, IT, PSUs, capital goods and realty sectors, leading the gains.
The index had gained 337.58 points in the previous session as fall in global crude oil prices eased inflation concerns. Similarly, the National Stock Exchange index Nifty was up by 5.25 points, or 0.07 per cent, to 7,585.45. Brokers said buying by funds and retail investors and covering-up of pending short positions by speculators ahead of Thursday’s monthly expiry in the derivatives segment, led to the rise in stock prices.
Among other Asian markets, Hong Kong’s Hang Seng index rose 0.24 per cent, while Japan’s Nikkei was down 0.51 per cent in early trade on Wednesday. The U.S. Dow Jones Industrial Average ended 0.70 per cent down in Tuesday’s trade.