The BSE benchmark Sensex gained over 65 points in early trade today on the back of gains in stocks of IT, oil and gas and metal sectors, amid a firming Asian trend.
The 30-share barometer, which had lost 9.68 points in yesterday's volatile trade, recovered by 65.74 points, or 0.35 per cent, to 18,395.06.
Similarly, the wide-based National Stock Exchange index Nifty moved up by 2.45 points, or 0.04 per cent, to 5,574.00.
Brokers said selective buying by major players amid a firming trend in Asian markets on hopes that the United States will avoid a 'fiscal cliff' and Greece will get its
much-needed bailout, helped trading sentiments improve.
Meanwhile, in Asia, Hong Kong's Hang Seng index rose by 0.67 per cent, while Japan's Nikkei by 1.02 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.06 per cent lower in yesterday's trade.
GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange rose 0.15 percent. The MSCI-Asia Pacific index excluding Japan was up 0.01 percent.
* Wall Street halted its two-day rally on Tuesday, after Federal Reserve Chairman Ben Bernanke said the central bank lacks tools to cushion the U.S. economy from the impact of the "fiscal cliff."
* Asian shares steadied on Wednesday, after a two days of gains, as investors refocused on the risk of a U.S. Fiscal crisis following Bernanke's remarks that the budget impasse was already damaging growth
FACTORS TO WATCH
* The Reserve Bank of India's Deputy Governor Subir Gokarn will address college students in Mumbai on 'The Current Economic Scenario in India' in the morning. In the evening, Gokarn will preside over the Exim Bank Commencement Day Annual Lecture on 'Developments in the World Trading System: India's Options'.
* The Reserve Bank of India's Deputy Governor Keshab Chandra Chakrabarty is scheduled to give a keynote address at ASSOCHAM's 8th Annual Banking Summit in New Delhi.
STOCKS TO WATCH
* India's government aims to pass bills opening up the insurance and pension sectors to foreign investors in parliament's forthcoming session, a minister said on Tuesday, the next step in a reform programme seen as key to reviving economic growth.
* India received bids worth 150.69 billion rupees ($2.74 billion) in unused foreign debt limits for government and corporate bonds, more than the 106.16 billion rupees on offer, two market sources said on Tuesday.
* Private equity firm Blackstone has made an offer to to buy prime office and retail real estate