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Sensex gains 311 points in early trade on global cues

The BSE benchmark Sensex gained nearly 311 points in early trade Friday on emergence of buying by funds and retail investors at lower levels amid a firm trend in global markets.

Updated: Mar 09, 2012, 09:44 AM IST

Mumbai: The BSE benchmark Sensex gained nearly 311 points in early trade Friday on emergence of buying by funds and retail investors at lower levels amid a firm trend in global markets.

The 30-share barometer, which had lost 492 points in the last three trading sessions, rebounded by 310.70 points, or 1.81 percent, to 17,456.22 points.

All sectoral indices were trading in positive zone with gains of up to 2.75 percent.

The wide-based National Stock Exchange index Nifty also moved up by 78.65 points, or 1.51 percent, to 5,299.10.

Brokers said emergence of buying by funds and retail investors at existing lower levels amid a firm trend in Asian markets in line with overnight gains in the US markets bolstered the trading sentiment.

In Asia, Hong Kong's Hang Seng Index rose by 0.21 percent, while Japan's Nikkei index was up by 1.45 percent in the morning trade.

The US Dow Jones Industrial Average gained 0.55 percent in yesterday's trade.

PTI