Sensex up 51 points in early trade

The BSE benchmark Sensex rose by over 51 points in early trade today on sustained buying by funds and retailers amid a firm global trend.

The 30-share barometer, which had gained 33.07 points in yesterday's trade, moved up further by 51.50 points, or 0.28 per cent, to 18,662.27.

Stocks of auto, consumer durables and banking sector led the rise.

Similarly, the wide-based National Stock Exchange index Nifty gained 14.35 points, or 0.25 per cent, to 5,674.60.

The trading sentiment remained firm on continued buying by funds and retail investors tracking overnight gains at the European and the US markets after an unexpectedly strong US housing data, brokers said.

In Asia, Hong Kong's Hang Seng rose by 0.52 per cent, while the Japan's Nikkei gained 1.66 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.04 per cent higher in yesterday's trade.

GLOBAL MARKETS ROUNDUP

Nifty futures on the Singapore Exchange rose 0.57 percent. The MSCI-Asia Pacific index excluding Japan was up 0.7 percent.

The S&P 500 rose for the third consecutive day on Wednesday after housing starts hit a four-year high, but the Dow was weighed down by IBM after it posted weak revenue.

Asian shares rose to their highest in seven months, as a slew of Chinese data pointed to stabilisation in the world's second largest economy, and positive U.S. housing data helped ease worries about a sharper slowdown in global growth.

FACTORS TO WATCH

ACC and Ambuja Cements expected to report higher profits on increased sales and lower cost of importing fuel.

INDIAN STOCKS TO WATCH

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EARNINGS

Rallis India's July-Sept net profit rose 6.1 percent to 656.7 million rupees from a year ago.

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