Sensex bounces 100 pts in early trade on positive global cues

Mumbai: The BSE Sensex recovered by over 100 points in early trade today on fresh buying by investors and foreign funds, tracking positive global cues. Besides, further strength in the rupee and widening of positions by participants ahead of the RBI’s bi-monthly monetary policy review, to be released later today, influenced the sentiment.

The 30-share index rose by 100.12 points, or 0.37 per cent, to 26,877.57 with the sectoral indices, led by auto, banking, power, realty, metal and consumer durables, trading in the positive zone with a gain of up to 0.64 per cent.

The gauge had lost 65.69 points in the previous two sessions. The NSE Nifty also moved up by 29.40 points, or 0.36 per cent, to 8,230.45.

Brokers said a firm trend at other Asian markets following overnight gains at the US markets after Federal Reserve chief Janet Yellen said the economy was still in good shape and that any increase in borrowing costs would be slow and low, bolstered the trading sentiment here.

Among other Asian markets, Hong Kong’s Hang Seng was up 0.80 per cent, Japan’s Nikkei went up by 0.36 per cent and Shanghai Composite index soared by 2.18 points in early trade today. The US Dow Jones Industrial Average ended 0.64 per cent higher in yesterday’s trade.