Sensex rises 50 pts in early trade on earnings

TIL Desk/Business/Mumbai/ The benchmark BSE Sensex advanced about 50 points in early trade on Wednesday on fresh buying by investors amid better-than-expected earnings. Speculators covering up their short positions ahead of the July derivatives contract expiry tomorrow also supported the upward move.

The BSE 30-share barometer recovered by 49.58 points, or 0.15 per cent, to 32,277.85. The gauge had shed 17.60 points in the previous session after investors booked profits at record levels. All sectoral indices led by metal, power, FMCG and auto were in the green, adding up to 1.19 per cent.

The NSE Nifty was also trading higher by 22.35 points, or 0.22 per cent, to quote at 9,986.90. It had breached the historic 10,000-mark for the first time in intra-day trade on Tuesday. Traders said buying by retail investors coupled with sustained foreign fund inflows and better-than-expected earnings by some more companies influenced sentiment.