Mumbai: The benchmark BSE Sensex recovered over 117 points in early trade on emergence of buying by funds in oil and gas, IT, banking and consumer durables sector stocks amid a mixed Asian trend.
The 30-share barometer rose by 117.10 points, or 0.56 per cent, to 20,825.72. The index had lost 151.24 points in the previous session.
Similarly, the wide-based National Stock Exchange index Nifty moved up by 25.65 points, or 0.42 per cent, to 6,192.30.
Brokers said rebound in heavy-weight Reliance Industries and sugar sector stocks helped trading sentiments to improve.
Stock of Reliance Industries shot up by 1.45 per cent to Rs.866.95 after the government yesterday decided to allow company to double the price of natural gas from April provided the firm gave a bank guarantee.
Sugar company stocks were turned buyers’ fancy following government’s decision to provide interest-free loans of Rs.6,600 crore to cash-starved sugar mills to make payments to cane farmers.
Among sugar stocks, Shree Renuka sugar gained 1.01 per cent to Rs 19.95, Balrampur Chinni mills was up 1.52 per cent, to Rs 46.85, Dhampur Sugar by 3.10 per cent to Rs.36.55 and Rana Sugar by 3.05 per cent to Rs.2.70.
Meanwhile, Japan’s Nikkei was down 79 points, while Hong Kong’s Hang seng index was up 15.43 points per cent in early trade.
The US Dow Jones Industrial Average gained 0.07 per cent in yesterday’s trade.
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