Sensex surges 104 pts in early trade ahead of IIP data

On Wednesday the benchmark BSE Sensex rose over 104 points in early trade, extending Tuesday's gain on sustained buying by funds ahead of industrial output data amid a firm trend in the global markets.

The 30-share index rose by 104.43 points, or 0.51%t, to 20,467.80 points with banking, IT, realty, auto and oil and gas sectoral indices leading the rise by gaining up to 0.83%. The index had gained 29.10 points in the previous session.

The wide-based Nifty of the National Stock Exchange moved up by 28.95 points, or 0.48%, to 6,091.65.

Brokers said increased buying by participants ahead of industrial production (IIP) data for December, to be released later in the day and a firming trend in the global markets
on new head of the US Federal Reserve's promise of continuity in central bank monetary policy, mainly boosted the trading sentiments.

Besides, narrowing trade gap after exports grew by 3.79 per cent in January to USD 26.7 billion was another positive factor, they said.

In the Asian markets, Hong Kong's Hang Seng rose by 0.43 per cent, while Japan's Nikkei by 0.94% in early trade on Wednesday.

The US Dow Jones Industrial Average gained 1.22% in Tuesday's trade.