Sensex up 38 points in early trade

Mumbai, May 9: Extending yesterday’s gains, the benchmark Bombay Stock Exchange Sensex rose over 38 points in early trade on Friday on selective buying by investors amid a mixed trend on other Asian bourses.

The 30-share index, which had gained 20.14 points in yesterday’s volatile session, rose further by 38.72 points, or 0.17 per cent, to 22,382.76 with stocks of power, banking, IT, realty, metals and FMCG sectors moving up.

The National Stock Exchange index Nifty also moved up by 6.40 points, or 0.10 per cent, to 6,666.25.

Brokers said buying was selective as participants preferred to adopt a cautious approach ahead of the results of the Lok Sabha elections.

A mixed trend at other Asian markets influenced the trading sentiment here, they added.

In Asia, Hong Kong’s Hang Seng index fell by 0.37 per cent, while Japan’s Nikkei gained 0.59 per cent in early trade.

The US Dow Jones Industrial Average ended 0.20 per cent higher in yesterday’s trade.