BSE Sensex gains 33 points in early trade

Feb 18 2013, 09:43 IST
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The 30-share barometer rose by 32.80 points, or 0.16 per cent, to 19,500.95. (Reuters) The 30-share barometer rose by 32.80 points, or 0.16 per cent, to 19,500.95. (Reuters)
SummaryThe 30-share barometer rose by 32.80 points, or 0.16 per cent, to 19,500.95.

The BSE benchmark Sensex gained over 32 points in early trade today on selective buying by funds and retailers amid a mixed Asian trend.

The 30-share barometer rose by 32.80 points, or 0.16 per cent, to 19,500.95.

The index had lost 140 points in the previous two sessions.

Similarly, the wide-based National Stock Exchange index Nifty edged up by 4.80 points, or 0.08 per cent, to 5,892.20.

Brokers said selective buying by funds and retailers in oil and gas, realty, consumer durable, health care, metal and banking sectors mainly led the market in a better form.

They said a mixed trend in Asian region further influenced the sentiment.

Among Asian markets, Hong Kong's Hang Seng fell by 0.40 per cent, while Japan's Nikkei higher by 2.23 per cent in early trade today.

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GLOBAL MARKETS ROUND UP

Nifty futures on the Singapore Exchange rose 0.05 percent. The MSCI-Asia Pacific index, excluding Japan fell 0.21 percent.

Japanese shares rallied and the yen fell on Monday after Tokyo escaped direct criticism from its G20 peers on its aggressive reflationary plans that have weakened the currency.

The S&P 500 dipped in a late decline on Friday as Wal-Mart Stores Inc dropped following a report of a weak start to February sales, though the index just barely extended its streak of weekly gains to seven.

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FINANCIAL/REGULATORY

India's central bank chief struck a hawkish note on Saturday and said there are upside risks to inflation from food and commodity prices, while room for monetary easing is limited.

India's finance minister is planning to cut the public spending target for fiscal 2013/14 by up to 10 percent from this year's original target, in what would be the most austere budget unveiled in recent history as he tries to avert a sovereign credit downgrade.

Investors are betting Indian bonds are set for their biggest rally since the global financial crisis, wagering that a government at risk of losing its investment-grade rating will put fiscal discipline ahead of election largesse.

India is aggressively pursuing tax claims against multinational firms operating in the country as the government seeks to rein in its budget deficit, taking particular aim at IT and back-office functions, tax officials say.

ENERGY/COMMODITIES

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