Sensex up 65 points in early trade on funds buying

Aug 08, 2012 |

mumbai

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Rising for the third day in a row, the BSE benchmark Sensex gained 65 points in early trade on Wednesday on sustained buying by funds and retailers amid a firming trend in Asian region.

The 30-share barometer, which had gained almost 404 points in the previous two sessions, added 65.02 points, or 0.37 per cent, to 17,666.80.

All the sectoral indices, led by metal and auto, were trading with gains of up to 1.43 per cent.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 20.45 points, or 0.38 per cent, to 5,357.15.

Trading sentiment remained firm on continued buying by funds and retail investors largely on expectations of cut in interest rates and slew of economic reforms after Finance Minister P. Chidambaram unveiled a roadmap to prop up growth.

Besides, a firming trend in Asian region following overnight gains at the US market on rising hopes for a new round of stimulus from the US and European central banks.

In Asian region, Hong Kong's Hang Seng rose by 0.58 per cent, while the Japan's Nikkei by 1.63 per cent in early trade on Wednesday. The US Dow Jones Industrial Average ended 0.39 per cent higher in Tuesday's trade.

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