Sensex recovers 188 points in opening trade | business | Hindustan Times
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Sensex recovers 188 points in opening trade

business Updated: Jul 22, 2009 10:40 IST

The Bombay Stock Exchange benchmark Sensex bounced back to quote over 188 points higher in opening trade on Wednesday, after Tuesday's fall, on fresh capital inflows by foreign funds, tracking firming trends in the global markets amid better-than-expected corporate results.

Short-covering by speculators too supported the rise in stock prices.

The 30-share index, which had lost 0.85 per cent in the previous session, recovered by 188.84 points, or 1.23 per cent to 15,251.33 points in opening trade as the sectoral indices traded in positive zone with gains of up to 3.88 per cent.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 54.80 points, or 1.17 per cent to 4,523.90.

Stock brokers said pick up in buying by foreign funds, triggered by firming global equity markets on growing optimism about a recovery in the economy and better-than-expected results by some blue-chip companies.

Wipro, the software major, on Wednesday reported 11.86 per cent increase in consolidated net profit at Rs 1,015.50 crore for the first quarter ended June 30, 2009.

The shares of the IT company were up by early 3 per cent at Rs 470.10 on the BSE.