Mumbai, July 18 - The BSE benchmark Sensex rose by over 38 points in early trade today on selective buying by funds amid a firming trend in Asian markets. The 30-share barometer, which had ended flat yesterday after four days of losses, advanced by 38.52 points, or 0.23 per cent, to 17,143.82.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 8.35 points, or 0.16 per cent, to 5,201.20. Brokers said selective buying by funds, driven by a firm trend on Asian bourses in line with overnight gains at the US market mainly influenced the trading sentiment.

In the Asian region, Japan's Nikkei was up by 0.47 per cent, while Shanghai edged up by 0.03 per cent in early trade. The US Dow Jones Industrial Average ended 0.62 per cent higher in yesterday's trade. PTI