Sensex rebounds, up 66 points in early trade

Sensex

The BSE benchmark Sensex today recovered by over 66 points in early trade on fresh buying by funds and retailers amid a firming trend on the other Asian bourses.

The 30-share barometer, which has lost nearly 132 points in the past four sessions, rose by 66.46 points, or 0.34 per cent, to 19,421.72, led by gains in stocks of auto, realty, healthcare and IT sectors.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 19.45 points, or 0.33 per cent, to 5,907.45.

Brokers said fresh round of buying by funds as well as retail investors, tracking a firming trend on the Asian markets after the US Federal Reserve took new stimulus steps to bolster the economy.

They said, however, rising inflation, which dimmed hopes of a rate cut, capped the gains.

Meanwhile, in Asia, Hong Kong's Hang Seng index rose 0.22 per cent, while Japan's Nikkei gained 1.90 per cent.

The US Dow Jones Industrial Average ended 0.02 per cent lower in yesterday's trade.

GLOBAL MARKETS ROUNDUP

Nifty futures on the Singapore Exchange rose 0.19 percent higher. The MSCI-Asia Pacific index excluding Japan was also up 0.2 percent.

U.S. stocks ended nearly flat on Wednesday, giving up most of the day's gains after Fed Chairman Ben Bernanke reiterated that monetary policy won't be enough to offset damage from the "fiscal cliff."

Asian shares extended gains for a seventh day on Thursday, after the U.S. Federal Reserve took new stimulus steps to bolster the economy.

FACTORS TO WATCH

Gujarat state goes to the polls.

Indian Prime Minister Manmohan Singh attends a telecoms event.

... contd.

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