Sensex up over 71 points in early trade

Benchmark BSE Sensex was trading 71.49 points higher after oscillating between red and green in the early session taking cues from cautious global markets amid US Federal Reserve indicating raising interest rates as early as September.

Besides, domestic sentiment was affected by the discouraging macro-economic data as wholesale inflation soared to a 23-month high of 3.55 per cent in July, making investors trim their positions.

A mixed trend was seen on other Asian bourses, tracking overnight losses in the US market, after a Federal Reserve official said that interest rates could be raised as soon as September.

The 30-share barometer, which had lost 87.79 points in the previous session, was trading higher by 71.49 points, or 0.25 per cent, to 28,136.10 with auto, banking and Healthcare sector stocks leading the charge.

Similarly, the broader NSE Nifty rose 15.05 points, or 0.17 per cent, to 8,657.60.

Among other Asian markets, Hong Kong’s Hang Seng was up 0.21 per cent while Shanghai Composite Index, shed 0.43 per cent in early trade. Japan’s Nikkei rose 0.50 per cent. The US Dow Jones Industrial Average ended 0.45 per cent lower trade on Tuesday.