Sensex opens up by 75 points on firm global cues

Sensex gained 75 points in opening trade on Wednesday on continued buying in select heavy-weight stocks, driven by firming trend on the other Asian bourses.

Mumbai: The BSE benchmark Sensex gained 75 points in opening trade on Wednesday on continued buying in select heavy-weight stocks, driven by firming trend on the other Asian bourses.

The 30-share index of the Bombay Stock Exchange, which had gained about 230 points in the previous two sessions, rose by 75.01 points, or 0.39 percent, to 19,167.06 points.

Likewise, the broad-based National Stock Exchange index Nifty also moved up by 23.60 points, or 0.41 percent, to 5,747.65 points.

Brokers said buying by funds and retail investors in line with firming trend in Asian markets following overnight gains on the US market on positive earnings expectation, helped the
Sensex post early gains.

They said concerns over inflation and fears of hike in interest rates, capped the gains.

Oil and gas, metal, consumer durables and banking stocks were trading in the positive territory.

Meanwhile, Japan's Nikkei Index rose by 0.19 percent while Hong Kong's Hang Seng Index was up 0.56 percent in the morning trade. In the US, the Dow Jones Industrial Index ended 0.43 percent up yesterday.

PTI

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