Sensex up by 89 points in early trade

Global cues helped the stock markets to marginally recover the overnight losses and the Sensex by 89 points.

Global cues helped the stock markets to marginally recover the overnight losses and the benchmark Sensex was up by over 89 points within five minutes of trading.

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The Bombay Stock Exchange 30-share sensitive index opened slightly better at 14,069.61 from Tuesday's close of 14,041.24.

Later, it rallied further to a high of 14,130.53, a smart rise of 89.29 points.

On the National Stock Exchange (NSE), the S&P CNX Nifty also closed recouped by 24.35 points to 4,090.45 from previous close of 4,066.10.

Though the market showed some sign of recovery, outlook remained cautious ahead of the expiry of January series on Thursday, analysts said adding that a sharp spurt in world oil prices could dampen the sentiments later in the day.

Cement stocks, which suffered a sharp setback yesterday on cut in customs duty, recovered marginally on fresh buying support.

On Wall Street, the Dow Jones Industrial Average and the Nasdaq Composite Index finished in green while most of the Asian markets also displayed a firm trend early this morning.