Sensex moves up 75 pts in early trade on global cues

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Taking positive cues from and covering-up of short positions by speculators, the benchmark recovered by over 75 points in early trade today on the back of widespread gains in blue-chips.

Besides, rising for the third straight month in November, spread cheer and supported the gauge’s recovery.

The 30-share index recovered 75.48 points, or 0.28 per cent, to 26,594.55, with sectoral indices led by consumer durables, auto, IT, realty and metal trading in the green, advancing by up to 0.66 per cent.

The barometer lost 178.75 points in the previous two sessions.

Also, the was up 25.10 points, or 0.30 per cent, at 8,178.70.

Brokers said a fresh spell of buying triggered by a firming trend in other Asian bourses following overnight gains in the US markets, buoyed sentiment.

The country’s rose for the third straight month in November, recording a growth of 2.29 per cent, though the trade deficit shot up to about a two-year high of USD 13 billion mainly due to increase in gold imports.

Elsewhere in Asia, Hong Kong’s Hang Seng was up 0.09 per cent while Japan’s Nikkei rose 0.68 per cent in early trade today. Shanghai Composite index, however, shed 0.01per cent.

The US Dow Jones Industrial Average closed higher by 0.30 per cent in yesterday’s trade.