Mumbai:  The benchmark BSE Sensex gained for the third straight session by adding 89 points in early trade today on increased buying by funds and retail investors after country’s current account deficit declined sharply in the December quarter of the current fiscal.

India’s current account deficit (CAD) fell sharply to USD 4.2 billion, or 0.9 per cent of GDP, in the December quarter of 2013-14 on the back of rise in exports and moderation in gold imports.

The 30-share barometer, which had gained over 330 points in the previous two sessions, rose further by 89.44 points, or 0.42 per cent, to 21,366.30 with all the sectoral indices led by realty, power and banking, were trading in positive zone with gains up to 0.77 per cent.

The National Stock Exchange index Nifty moved up by 22.85 points, or 0.36 per cent, to 6,351.50.

Brokers said steady buying by funds and retail investors and a firming trend at other Asian bourses boosted the sentiment here.

Among other Asian markets, Hong Kong’s Hang Seng rose by 0.44 per cent, while Japan’s Nikkei gained 0.38 per cent in early trade today.

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Free Press Journal