Sensex recovers 115 points in early trade
After a 4.72 per cent fall on Monday, the benchmark index partially recovers on funds' buying.business Updated: Apr 03, 2007 11:25 IST
After a 4.72 per cent fall on Monday, the Bombay Stock Exchange benchmark Sensex partially recovered to quote over 115 points in early trade on Tuesday on purchasing by funds in select blue-chip stocks.
The BSE-30 share index, which had plunged nearly 617 points in the previous session after RBI raised short-term lending rates, was up by 115.21 points at 12,570.58 in the first five minutes of trading.
Similarly, on the wide-based National Stock Exchange, Nifty index was up by 32.35 points at 3,665.95.
Stock brokers said short-covering by speculators along with emergence of buying by funds at lower levels, helped the Sensex to recover part of Monday's losses.
They said firming trend in other Asian markets too had its positive impact on trading sentiments here.
Major support came in from stocks like Infosys Technologies, TCS, HDFC Ltd, HDFC Bank, Tata Steel and Reliance Capital.