BSE Sensex up 88 points, Nifty by 25.35 points in early trade

Sensex

The BSE benchmark Sensex today rose over 88 points in early trade on sustained buying by funds and retailers.

The 30-share barometer, which gained 100.47 points yesterday, rose further by 88.51 points, or 0.45 per cent, to 19,649.55 in the first five minutes of trading.

Similarly, the wide-based National Stock Exchange index Nifty, moved up by 25.35 points, or 0,43 per cent, to 5,947.85.

All sectoral indices, led by auto, were trading in the positive zone with gains up to 1.41 per cent.

Brokers said sustained buying by funds amid a firming trend at the US market mainly influenced the sentiment.

Meanwhile, the US Dow Jones Industrial Average ended 0.34 per cent higher yesterday.

GLOBAL MARKETS ROUNDUP

* Asian shares inched higher on Wednesday while the yen was firmer amid conflicting interpretations of G7 comments about the yen's recent weakness.

* The yen held firm on Wednesday, having swung higher in dramatic style as investors cut bearish positions after an official from the Group of Seven said there were concerns about excessive movements in Japan's currency.

* Oil prices rose on Tuesday after the U.S. Energy Information Administration (EIA) said world oil demand would increase faster than previously expected in 2013 and OPEC raised its outlook for the amount of crude it will need to pump this year.

* U.S. Treasuries prices slipped on Tuesday as investors looked ahead to retail sales data to shed light on consumer habits after a lacklustre debt sale, the first for a total of $72 billion in supply this week.

* Sensex snaps losing streak, gains 100 pts

LOCAL MARKETS PREVIOUS CLOSE

* BSE index 19,561.04 (+0.52 pct)

* NSE index 5,922.50 (+0.42 pct)

* Rupee 53.85/86 per dollar (53.8450/8550)

* 10-year bond yield 7.87 pct (7.86 pct)

* 5-year OIS rate 7.27 pct (7.26 pct)

... contd.

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