Sensex up 96 points in early trade

The BSE benchmark Sensex rose by over 96 points in early trade today led by recovery in stocks of power, auto and oil and gas sectors on emergence of buying amid a firming trend in the Asian region.

The 30-share barometer rebounded by 96.72 points, or 0.50 per cent, after yesterday's losses, to 19,420.52.

All the sectoral indices were trading in the positive territory with gains up to 0.86 per cent.

Similarly, the wide-based National Stock Exchange index, Nifty moved up by 32.15 points, or 0.54 per cent, to 5,902.25.

The Sensex had yesterday fell by nearly 94 points on fag-end selling on growth concerns.

Brokers said fresh buying by participants amid a firm trend in the Asian region on hopes of a last-minute deal to avert the US fiscal cliff mainly led the recovery on the domestic bourses here.

In the Asian region, Hong Kong's Hang Seng index rose 0.35 per cent, while Japan's Nikkei gained 0.71 per cent in early trade. The US Dow Jones Industrial Average ended 0.14 per cent lower in yesterday's trade.

Stocks to watch-Dec 28

Reuters: GLOBAL MARKETS ROUND UP

Nifty futures on the Singapore Exchange were flat, while the MSCI-Asia Pacific index, excluding Japan, advanced 0.41 percent.

The yen hit its lowest level in more than two years on Friday on expectations of drastic monetary easing intensify, while Japanese stocks rose to 21-month highs. Asian shares advanced on signs Washington is striving to avoid a fiscal crunch.

U.S. stocks fell for a fourth day on Thursday, but recovered most of their losses after the House of Representatives, in the barest sign of progress, said it would come back to work on avoiding the "fiscal cliff" this weekend.

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