BSE Sensex gains 79 points in early trade

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Foreign investors bought 0.74 bn Rs of stocks, while domestic institutions sold 1.60 bn Rs of stocks. (Reuters) Foreign investors bought 0.74 bn Rs of stocks, while domestic institutions sold 1.60 bn Rs of stocks. (Reuters)
SummaryThe index had lost 316.55 points in the previous session.

The BSE benchmark Sensex gained over 79 points in early trade today on emergence of buying by funds and retailers at existing lower levels amid a firming Asian trend.

The 30-share barometer rose by 79.18 points, or 0.42 per cent, to 19,094.32. The index had lost 316.55 points in the previous session.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 20.95 points, or 0.56 per cent, to 5,782.30.

Realty, metal and oil and gas sector stocks led the recovery.

Brokers said emergence of buying by funds and retailers at existing lower levels amid a firming trend in the Asian region mainly buoyed the trading sentiments.

Meanwhile, in Asia, Hong Kong's Hang Seng index rose by 0.56 per cent, while Japan's Nikkei up by 0.17 per cent in early trade. The US Dow Jones Industrial Average ended 0.84 per cent higher in yesterday's trade.

* Nifty futures on the Singapore Exchange rose 0.3 percent. The MSCI-Asia Pacific index, excluding Japan rose 0.5%

* Asian shares rebounded on Wednesday as US equities rose on solid data and the Federal Reserve's affirmation of its commitment to monetary stimulus, but investors remained wary of political gridlock in Italy reigniting the euro zone financial crisis.

* Foreign investors bought 0.74 billion rupees of stocks, while domestic institutions sold 1.60 billion rupees of stocks on Tuesday when the BSE index fell 1.64 percent.

* The Indian government will present an annual report on the health of the economy, which is battling the worst slowdown in a decade. (0530 GMT)

GLOBAL MARKETS ROUNDUP

* Asian shares rebounded on Wednesday as U.S. equities rose on solid data and the Federal Reserve's affirmation of its commitment to monetary stimulus, but investors remained wary of political gridlock in Italy re-igniting the euro zone financial crisis.

* The yen held near one-month highs on Wednesday, remaining susceptible to bursts of short-covering as political uncertainty in Italy kept the euro under the gun.

* Brent crude oil fell to a one-month low under $113 a barrel on Tuesday as inconclusive Italian election results revived investor concerns about instability in the euro zone and about future demand for fuel.

* U.S. Treasuries prices fell on Tuesday, though yields held near their lowest levels in a month, as political instability in Italy boosted demand for lower risk assets and after Federal Reserve Chairman Ben Bernanke defended the U.S. central bank's bond purchases.

OVERNIGHT NEWS

* After long failing to act on foreign investor

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