Sensex recovers over 60 points in early trade on global cues

Snapping its two-day falling streak, the benchmark BSE Sensex gained over 60 points in early trade on Wednesday emergence of buying by funds and retail investors on firm global cues.

After falling nearly 250 points in the past two sessions, the 30-share barometer rose by 60.64 points, or 0.21 %, to 28,504.65 with auto, capital goods, power, consumer durables and oil & gas sector stocks leading the recovery. On similar lines, the National Stock Exchange index Nifty gained 15.90 points, or 0.18 %, to 8,540.60.

Brokers said trading sentiments turned positive amid a firming trend in the Asian region, following overnight gains in American markets on encouraging US economic data. Besides, RBI keeping key rates unchanged and giving a hint of lowering them early next year, influenced trading sentiments. Among other Asian markets, Hong Kong's Hang Seng rose by 0.43 % while Japan's Nikkei gained 1.03 % in early trade today.

The US Dow Jones Industrial Average gained 0.58 % to close at new record-high in yesterday's trade.