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BSE Sensex up 50 points in early trade; Nifty touches 7729

Friday, 4 July 2014 - 9:55am IST | Place: Mumbai

  • Sensex up 50 points in early trade

The benchmark BSE Sensex recovered nearly 54 points in early trade today on emergence of buying by funds and retail investors amid positive cues from other Asian markets.

The 30-share index, which had lost 17.46 points in the previous session, rose by 53.97 points, or 0.21 per cent, to 25,877.72, with stocks of healthcare, infrastructure, consumer durables, realty and power sectors leading the recovery. The only index that has gone down is capital goods.

On similar lines, the National Stock Exchange index Nifty rose 14.60 points, or 0.19 per cent, to 7,729.40.

The biggest gainers in the early trade are Dr Reddy's Lab, Tata Power, Bharti Airtel, Axis Bank and HUL. The big losers till now are HDFC, L&T, Mahindra and Mahindra, Uktratech Cement and Kotak Mahindra Bank.

Brokers said fresh buying by funds amid a firming trend in other Asian markets, after US markets surged to record highs on the back of upbeat jobs data and easing crude prices, also helped the Sensex trade in positive terrain.

They added that expectations from the upcoming Budget have also boosted the sentiment here.

Globally, US benchmark West Texas Intermediate crude for August delivery eased 17 cents to USD 103.89 while Brent crude fell six cents to USD 110.94 per barrel.

Among other Asian markets, Hong Kong's Hang Seng was up by 0.26 per cent while Japan's Nikkei gained 0.93 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.54 per cent higher in yesterday's trade.

With input from PTI

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