Opening trade: Sensex 62 pts up on firm Asian cues

Mumbai: The BSE benchmark Sensex opened over 62 points higher on Wednesday on selective buying by funds and retail investors, taking cues from a firming trend on other Asian bourses after yesterday`s losses.

The 30-share index of the Bombay Stock Exchange, which lost 16.19 points in the previous volatile session, recovered by 62.23 points, or 0.33 per cent, to 18,575.00 in the first few minutes of trade today, with auto, metals, banking and realty stocks leading the recovery.

Similarly, the wide-based National Stock Exchange Nifty index also moved up by 15.60 points, or 0.28 per cent, to 5,556.85.

Brokers attributed the rise in select stocks to fresh buying by funds and retail investors, driven by a firming trend on other Asian bourses following overnight gains in the US market.

Japan`s Nikkei index was trading 0.65 per cent higher, while Hong Kong`s Hang Seng Index gained 0.28 per cent in early trade today. The US Dow Jones Industrial Averaged ended 0.60 per cent higher in yesterday`s trade.

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