Hello Laxmikant,
This is what you do
1. Go to Bex Query Designer
2. Click on the Characteristic that you want to sort.
3. On the properties pane, click on the Display tab.
4. On Sorting section of this tab, do the settings in the picture below.
This will sort the LOV values alphabetically in Ascending order. Once you try to run your report, you will see your values sorted your settings.