Sensex up 166 points on value-buying, Asian cues

Market benchmark Sensex rebounded over 166 points in early trade on Tuesday on value-buying by investors in select bluechips amid a recovery in Asian markets.

The 30-share index was trading higher by 166.41 points or 0.65% to 25,603.38 with all the sectoral indices led by auto and capital goods leading the recovery.

The gauge had lost 169.65 points on Monday on a plunge in Tokyo equities and disappointing domestic corporate earnings along with a fall in manufacturing sector activity.

The NSE Nifty was up 57.25 points or 0.73% at 7,863.15 in early trade.

Brokers said value-buying in select bluechips coupled with a slightly better trend in other regional markets following overnight gains in the US, influenced sentiment here.

Besides, encouraging auto sales numbers in April triggered buying, they added.

Among other Asian markets, Shanghai Composite Index was up 1.59%, while Sydney was up 0.9%, Seoul gained 0.2% and Wellington put on 0.6%. Manila and Jakarta were also higher. However, Hong Kong's Hang Seng shed 0.72%.

Japanese financial markets are closed today for a public holiday.

The US Dow Jones Industrial Average ended 0.66% higher in Monday's trade.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)