Sensex Recovers 75 Points Ahead Of Budget


MUMBAI: Tracking a firming global trend, the benchmark BSE Sensex rose by nearly 75 points in early trade ahead of the Union Budget 2014-15.

People walk past a billboard outside Bombay Stock Exchange. (HT Photo/Anshuman Poyrekar)

The 30-share barometer gained by 74.93 points, or 0.29%, to 25,519.74. The index had lost 655.27 points in the previous two sessions.

Sectoral indices led by capital goods, power, metal auto and PSU were trading in positive zone with gains up to 0.44 percent.

Similarly, the wide-based National Stock Exchange Nifty index moved up by 6.25 points, or 0.08 percent, to 7,591.25.

Brokers said fresh positions built-up by cautious participants on expectations of some sops in the Union Budget 2014-15 to be announced later in the day buoyed the trading sentiment.

Besides, a firming trend in the Asian region, taking a strong lead from Wall Street, in response to an upbeat outlook for the U.S. economy by the Federal Reserve influenced the sentiment, they said.

Among other Asian markets, Hong Kong's Hang Seng index was up by 0.45 percent, while Japan's Nikkei index gained 0.10 percent in early trade. The U.S. Dow Jones Industrial Average ended 0.47 percent higher.

Source: PTI