Sensex up nearly 103 points in early trade

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Nifty futures on the Singapore Exchange 0.24 percent higher. The MSCI-Asia Pacific index excluding Japan  is also 0.49 percent up. (Reuters) Nifty futures on the Singapore Exchange 0.24 percent higher. The MSCI-Asia Pacific index excluding Japan is also 0.49 percent up. (Reuters)
SummaryThe 30-share barometer, which had gained 42.80 points yesterday, rose by 102.67 points, or 0.53 per cent, to 19,450.79.

The BSE benchmark Sensex today surged nearly 103 points in early trade on sustained buying by funds and retailers, ahead of voting in Parliament on allowing FDI in multi-brand retail amid firm Asian cues.

The 30-share barometer, which had gained 42.80 points yesterday, rose by 102.67 points, or 0.53 per cent, to 19,450.79.

All the sectoral indices, led by metal, realty, oil and gas and capital goods, were trading in the positive zone with gains of up to 1.13 per cent.

The wide-based National Stock Exchange index Nifty moved up by 28.45 points, or 0.48 per cent, to 5,917.70.

Brokers said continued buying by funds and retail investors ahead of a voting in Parliament on allowing foreign direct investment (FDI) in multi-brand retail mainly buoyed the trading sentiment.

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

In Asia, Hong Kong's Hang Seng rose by 1.21 per cent, while the Japan's Nikkei by 0.86 per cent in early trade today.

The US Dow Jones Industrial Average, however, ended 0.11 per cent lower yesterday.

GLOBAL MARKETS ROUNDUP

* Nifty futures on the Singapore Exchange 0.24 percent higher. The MSCI-Asia Pacific index excluding Japan is also 0.49 percent up.

* US stocks finished slightly lower in a quiet session on Tuesday as the back-and-forth wrangling over the "fiscal cliff" gave investors little reason to act.

* Asian shares were little changed on Wednesday, with prices capped by continuing concerns over whether the United States can avert an economic slump as lawmakers struggle to break a budget impasse by year end.

FACTORS TO WATCH

* India parliament votes on opening up supermarket sector to FDI.

* India cbank chief at events in eastern city of Kolkata.

* GMR presser over Male airport contract termination at 0630 GMT.

* Goldman Sachs India chief economist at media briefing at 0915 GMT.

* India November Services PMI at 0500GMT.

* India CFO conclave in Mumbai.

INDIAN STOCKS TO WATCH

FINANCE

* Sterlite Industries, a unit of Vedanta Resources , plans to raise 5 billion rupees selling ten-year bonds with a call option at the end of five years, to refinance

existing debt as interest rates have softened.

RETAIL

* Indian jewellery retailer PC Jeweller Ltd plans to raise up to $111 million through an initial public offering opening (IPO) on Dec. 10. PC Jeweller said it would offer 45.1 million shares, or about a quarter of its equity capital,

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