Sensex rises by 129 points in early trade on positive Asian cues

Mumbai: The benchmark BSE Sensex gained over 129 points in early trade on April 27 on value-based buying by investors amid positive cues from other Asian markets. The 30-share index rose by 129.34 points, or 0.47 per cent, at 27,567.28 as buying in stocks of FMCG, power, auto, metal and infrastructure sectors, positively impacted the trading sentiments. Besides, the National Stock Exchange index Nifty gained 29.20 points, or 0.35 per cent, at 8,334.45.

Brokers said value-based buying in bluechips after recent losses following disappointing earnings and persistent worries over the controversial Minimum Alternate Tax (MAT) issue along with a firming trend in other Asian markets, influenced domestic trading sentiments. Besides, expectations of encouraging fourth quarter earnings from bluechips such as Maruti Suzuki and ICICI Bank, to be released later on April 27, buoyed sentiments.

Maruti Suzuki shares rose 1.25 per cent, while ICICI Banks scrips were up 1.27 per cent in early trade. Among other Asian markets, Hong Kong's Hang Seng was up by 0.66 per cent while Japan's Nikkei gained 0.22 per cent in early trade. The US Dow Jones Industrial Average closed 0.12 per cent up at record-high on Friday.