Sensex snaps 6-day losing streak, up 179 pts in early trade

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Fresh round of buying has been triggered by the government announcing plans for further liberalisation and a firming trend on the other Asian bourses. Fresh round of buying has been triggered by the government announcing plans for further liberalisation and a firming trend on the other Asian bourses.
SummaryFresh round of buying has been triggered by govt announcing plans for further liberalisation.

Snapping a six-day losing streak, the BSE benchmark Sensex recovered by 179 points in early trade today on emergence of buying by funds and retail investors after the government announced plans for further liberalisation amid a firming trend in the Asian region.

The 30-share barometer rose by 179.37 points, or 0.93 per cent, to 19,525.07, led by the gains in oil and gas, metal, realty, power and capital goods stocks. The index had plunged 957 points in the previous six sessions.

Similarly, the wide-based National Stock Exchange index Nifty, gained 54.55 points, or 0.95 per cent, to 5,796.55.

Brokers said fresh round of buying by participants triggered by the government announcing plans for further liberalisation and a firming trend on the other Asian bourses, following the US Federal Reserve's decision to keep its stimulus scheme in place, mainly influenced the sentiment.

In Asia, Japan's Nikkei was trading 1.14 per cent higher, while Hong Kong's Hang Seng index up 0.622 per cent in early trade today.

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