Sensex rises 100 points in early trade

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The 30-share barometer rose by 99.74 points, or 0.51 per cent, to 19,491.60. (Reuters) The 30-share barometer rose by 99.74 points, or 0.51 per cent, to 19,491.60. (Reuters)
SummaryThe 30-share barometer rose by 99.74 points, or 0.51 per cent, to 19,491.60.

The BSE benchmark Sensex today shot up over 99 points in early trade on sustained buying by funds and retailers, after the ruling government's victory in Parliament over FDI in multi-brand retail sector amid firm Asian cues.

The 30-share barometer rose by 99.74 points, or 0.51 per cent, to 19,491.60.

All the sectoral indices, led by Auto, metal, consumer durable, capital goods, realty, oil and gas and power, were trading in the positive zone with gains of up to 0.58 per cent.

The wide-based National Stock Exchange index Nifty moved up by 10.05 points, or 0.16 per cent, to 5,927.75.

Brokers said continued buying by funds and retail investors after the ruling government's victory in Parliament over FDI in multi-brand retail sector.

Besides, a firming trend on other Asian bourses, too, triggered buying activity in the domestic market, they added.

In Asia, Hong Kong's Hang Seng rose by 0.10 per cent, while the Japan's Nikkei up by 0.87 per cent in early trade today. The US Dow Jones Industrial Average, however, ended 0.64 per cent lower yesterday.

GLOBAL MARKETS ROUNDUP

Nifty futures on the Singapore Exchange 0.22 percent higher. The MSCI-Asia Pacific index excluding Japan is also 0.13 percent up.

A volatile trading session ended with U.S. stocks mostly higher on Wednesday, even as Apple, the most valuable company in the United States, suffered its worst day of losses in almost four years.

Asian shares were steady near 16-month highs on Thursday, supported by hopes that U.S. lawmakers will reach a compromise to avoid the so-called 'fiscal cliff' of year-end tax hikes and spending cuts which threaten to push the U.S. Economy back into recession.

FACTORS TO WATCH

Fiat-Chrysler Asia Pacific COO in Mumbai for strategic launch. (0630GMT)

India's cabinet headed by Prime Minister Manmohan Singh is likely to approve setting up of National Investment Board. (1200 IST)

India's upper chamber of parliament begins FDI in retail debate.

Supreme Court in India will announce its decision on Vedanta's planned bauxite mine in eastern Odisha state.

INDIAN STOCKS TO WATCH

MACRO/POLICY

India's fragile ruling coalition won a vote on allowing foreign supermarkets to operate in Asia's third-largest economy on Wednesday, in a key test of support for Prime Minister Manmohan Singh and his flagship economic reform.

The Union Cabinet will on Thursday take up the proposal to set up

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