Sensex rises 168 points in early trade on positive Asian cues

Mumbai: The benchmark BSE Sensex gained over 168 points in early trade on Thursday 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 percent, at 26,947.73.

Buying in stocks of metal, auto, realty, banking, PSU and consumer durables positively impacted the trading sentiments.

Also read: Rupee up 29 paise to 64.74 against dollar in early trade

The National Stock Exchange index Nifty was trading 47.25 points, or 0.58 percent higher at 8,155.15.

Brokers said buying after recent losses amid a firming trend in other Asian markets helped the domestic trading sentiments.

Also read: India most attractive country for investment: Ernst & Young

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.

Also read: India most favoured among emerging market equities: BofA-ML

Meanwhile, the rupee was trading 29 paise higher at 64.74 against the dollar in early trade on Thursday.

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

The US Dow Jones Industrial Average, however, ended 0.92 percent lower yesterday.