Sensex recovers 109 points in early trade

Mumbai: The BSE benchmark Sensex recovered by almost 109 points in early trade on Friday on emergence of buying by funds and retail investors in realty, capital goods, banking and metal sector stocks.

The 30-share index, which had lost 661.77 points in the previous two sessions, rose by 108.91 points, or 0.54 percent, to trade at 20,337.96.

The National Stock Exchange index Nifty gained 29.95 points, or 0.50 percent, to trade at 6,029.00.

Brokers said fresh buying by funds, tracking a firming trend on other Asian bourses after the US Dow Jones closed above the 16,000 level for the first time on the back of a slew of upbeat economic data, influenced the trading sentiments here.

Among other Asian markets, Hong Kong's Hang Seng index was up 0.52 percent, while Japan's Nikkei gained 1.23 percent in early trade today.

The US Dow Jones Industrial Average ended at a new record high by gaining 0.69 percent yesterday.

Sensex reclaims 21K level on fresh buying

 
Mumbai: After a brief pause yesterday, the S&P BSE benchmark Sensex reclaimed the 21K level and was quoted at 21,012.77 in late morning trade due to fresh buying on the back of persistent foreign capital inflows.

Market also got a boost after Finance Minister P Chidambaram exuded confidence that the country's current account deficit will be contained below USD 60 billion in current financial year.

Foreign institutional investors (FIIs) bought shares worth a net Rs 162.53 crore yesterday as per provisional data from the stock exchanges.

The Sensex resumed higher at 21,004.54 and hovered in a range of 21,045.38 and 20,944.50 before quoting at 21,012.77 at 1030 hrs, showing a gain of 37.98 points or 0.18 percent from its last close.

The NSE-50 share Nifty also moved up by 2.20 points or 0.04 percent to 6,255.35 at 1030 hrs.

Major gainers were TCS (1.83 percent), Wipro (1.62 percent), Cipla (1.40 percent), Sun Pharma (1.36 percent), Coal India (1.35 percent), Tata Motors (1.24 percent) and ITC (1.02 percent).

Most Asian stocks reversed intra-day losses today. Key benchmark indices in Hong Kong, Taiwan, Indonesia and Japan rose 0.07 percent to 0.47 percent while indices in Singapore and South Korea fell 0.11 percent to 0.12 percent. China's Shanghai Composite was flat