Sensex recovers 226 points in early trade
The 30-share index, which tanked over 875 points in the past three sessions, rises by 226.44 points to 15,115.69 in the first five minutes of trade due to heavy buying.business Updated: Jun 11, 2008 10:38 IST
Snapping three-session losing streak, the Bombay Stock Exchange benchmark Sensex on Wednesday recovered by over 226 points to regain 15,000 level in early trade on buying by funds along with short-covering by speculators in heavy-weight stocks.
The 30-share index, which tanked over 875 points in the past three sessions, rose by 226.44 points to 15,115.69 in the first five minutes of trade.
Similarly, the wide-based National Stock Exchange's Nifty gained 67.15 points to 4,516.95.
Marketmen said revival of buying at lower levels and covering up of huge short positions by speculators helped the trading sentiments improve.
Realty and infrastructure stocks witnessed a surge after touching their recent lows.
Major gainers were Reliance Infrastructure, Bharti Airtel, Jaiprakash Associates, Reliance Industries, Tata Steel, Larsen and Toubro, ICICI Bank, SBI, ACC, Ranbaxy Laboratories.
Among technology stocks, Infosys Technologies, Wipro, Tata Consultancy and Sataym Computers also surged on fresh buying by funds.