Sensex, Nifty climb in early trade amid positive global cues
The HinduEquity market benchmark indices Sensex and Nifty climbed in early trade on Thursday driven by buying in IT stocks amid a firm trend in the global peers after U.S. CPI inflation came on expected lines fuelling bets of a 25 basis point rate cut by the Federal Reserve next week. The 30-share BSE benchmark Sensex climbed 83.73 points to 81,609.87 in early trade. “Positive cues come from the U.S., where CPI inflation aligned with expectations, fuelled bets of a 25 bps rate cut by the Federal Reserve on December 18,” Prashanth Tapse, Senior VP, Mehta Equities Ltd, said. "Even though the US CPI inflation in November at 2.7% has come a bit above the October numbers, this was on expected lines and, therefore, the expectation of a 25 bps rate cut by the Fed is intact," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.