BSE Sensex rises 168 points in early trade on positive Asian cues

The benchmark BSE Sensex gained over 168 points in early trade today on fresh round of buying by investors amid positive cues from other Asian markets.

The 30-share index, which had lost almost 300 points in the previous three sessions on muted earnings by some
bluechip companies, recovered by 168.07 points, or 0.63% at 26,947.73.

Buying in stocks of metal, auto, realty, banking, PSU and consumer durables positively impacted the trading sentiments. The National Stock Exchange index Nifty was trading 47.25 points, or 0.58% higher at 8,155.15. Brokers said buying after recent losses amid a firming trend in other Asian markets helped the domestic trading sentiments.

Asian markets were up following weak US retail data reinforced hopes of delay in interest rate hike by the US Federal Reserve. Besides, recovery in the rupee and data showing foreign funds continued their buying on domestic bourses triggered buying by investors, they added. Meanwhile, the rupee was trading 29 paise higher at 64.74 against the dollar in early trade today.

Among other Asian markets, Hong Kong's Hang Seng was up by 1.49%, Japan's Nikkei gained 0.77%, while Shanghai Composite index surged 1.06% in early trade on Thursday. 

The US Dow Jones Industrial Average, however, ended 0.92 % lower on Wednesday.