Sensex up 89 points on global cues

The benchmark BSE Sensex recovered nearly 89 points in early trade today on emergence of buying by funds and retail investors amidst a firming trend in global markets after Federal Reserve Chief Janet Yellen's upbeat outlook on the US economy.

The 30-share index rose by 88.71 points, or 0.40 per cent, to 22,412.61 points with metal, healthcare, realty and power sector stocks leading the recovery. The index had lost 184.52 points in yesterday's trade.

The National Stock Exchange index Nifty moved up by 25.10 points, or 0.38 per cent, to 6,677.65.

Brokers said fresh buying by funds and retail investors, triggered by a better trend at other Asian bourses following overnight gains in the US markets on upbeat comments from Fed chief on the economy, influenced the trading sentiment here.

US Fed Chief told Congress that the economic outlook was positive and that the stimulus taper would continue steadily.

Among other Asian markets, Hong Kong's Hang Seng rose by 0.36 per cent, while Japan's Nikkei was up by 1.09 per cent in early trade today.

The US Dow Jones Industrial Average gained 0.72 per cent in the previous session.

EDITORIAL OF THE DAY

  • India’s political space acts as a safety valve for maverick politicians and frustrated electorate

    While it is easy to be cynical about Indian democracy and its ways, the fact is that the vast political space that the system provides for in this cou

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture