Sensex up 85 points in early trade on Asian cues

Mumbai, Jun 23: The benchmark BSE Sensex recovered over 85 points in early trade today on emergence of buying by funds and retail investors amid positive cues from other Asian markets.

The 30-share index, which had lost over 415 points in the previous three sessions, rose by 85.24 points, or 0.34 per cent, to 25,190.75, with stocks of metals, consumer durables, oil & gas, PSUs and realty sectors leading the recovery.

On similar lines, the National Stock Exchange index Nifty rose 10.20 points, or 0.14 per cent, to 7,521.70.

Brokers said revival of fresh buying by funds, tracking a firming trend in other Asian markets after preliminary data suggested Chinese manufacturing activity expanded in June for the first time this year, influenced the sentiments here.

In metal stocks, Tata steel edged up by 0.71 per cent to Rs 523.45, Sesa Sterlite gained 0.74 per cent to Rs 293.95 and Hindalco was up by 0.06 per cent to Rs 163.75.

Among other Asian markets, Hong Kong’s Hang Seng was up by 0.36 per cent while Japan’s Nikkei gained 0.46 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.15 per cent higher in Friday’s trade.