Sensex jumps 137 points in early trade on positive Asian cues

Mumbai: The benchmark BSE Sensex surged by 137 points to 23,691.10 and the NSE Nifty recaptured the 7,200-mark in early trade today amid a firming trend at other Asian markets. Investors were, however, cautious after India's exports shrank 13.6 per cent in January - 14th month in a row.

The 30-share index, which had rallied 602.29 points in the previous two sessions, gained 136.98 points or 0.58 per cent at 23,691.10, with all sectoral indices led by oil&gas, metal and banking trading in the positive zone, rising by up to 0.89 per cent.

The NSE Nifty reclaimed the 7,200-level by surging 41.70 points, or 0.58 per cent, at 7,204.65. Brokers said buying activity picked up largely in tandem with a firming trend in other Asian bourses and another rally in Europe in yesterday's trade amid rise in crude oil. Among other Asian markets, Japan's Nikkei climbed 1.39 per cent while Hong Kong's Hang Seng was trading higher by 1.62 per cent in early trade.

Shanghai's Composite index was also up 2.83 per cent on speculations that China is preparing stimulus measures to boost economy.The US markets were closed yesterday for the Presidents'Day holiday.