Sensex gains 147 points in opening trade on firm Asian cues

The BSE Sensex rose by nearly 147 points in opening trade today on fresh buying influenced by a firming trend in Asian markets after European leaders made a commitment for deeper fiscal integration as a first step toward resolving the region's debt crisis.

The 30-share benchmark index, which has lost nearly 664 points in the past two sessions, recovered by 146.86 points, or 0.90%, to 16.360.32 in opening trade today.

In a similar fashion, the wide-based National Stock Exchange Nifty index moved up by 26.80 points, or 0.55% , to 4,893.50.

Stocks of banking, metal and realty sectors led the recovery, helping the Sensex trade in positive terrain.

Brokers said fresh buying activity amid a firming trend in other Asian markets after European Union leaders agreed to tougher fiscal rules and more coordination influenced the trading sentiment here.

They said, however, any definite trend would depend on IIP data for the month of October, slated to be released later today.

Meanwhile, in Asia, Hong Kong's Hang Seng Index rose by 1.51%, while Japan's Nikkei Index moved up by 1.36% in morning trade today. The Dow Jones Industrial Average ended 1.55% higher on Friday.