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Sensex gains in early trade on firm Asian cues

Mumbai: The Bombay Stock Exchange benchmark Sensex rallied by almost 112 points in early trade on Wednesday, extending yesterday`s gains on increased buying by funds amid a firming trend on other Asian bourses.

The 30-share index of the Bombay Stock Exchange, which gained 146.83 points in yesterday`s trade, moved up further by 111.73 points, or 0.59 per cent, to 18,765.60 in early trade today.

Stocks of realty, consumer durables, banking and auto firms led the gains.

In a similar fashion, the wide-based National Stock Exchange Nifty index rose by 31.85 points, or 0.56 per cent, to 5,645.40 points.

Brokers attributed the rise in stock prices to increased buying by funds and retail investors, triggered by a firming trend on other Asian bourses following overnight gains in the US market on the back of strong quarterly earnings posted by IBM and Apple.

In the Asian region, Japan`s Nikkei index was trading 1.34 per cent higher, while Hong Kong`s Hang Seng moved up by 0.65 per cent in early trade today. The US Dow Jones Industrial Averaged ended 1.63 per cent higher in yesterday`s trade.

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