Sensex rebounds 71 points in early trade on global cues

After two sessions of losses, the benchmark BSE Sensex recovered by over 71 points to regain the 26,000-mark in early trade on Friday on emergence of buying by funds and retail investors.

After two sessions of losses, the benchmark BSE Sensex recovered by over 71 points to regain the 26,000-mark in early trade on Friday on emergence of buying by funds and retail investors amid a firming trend in other Asian markets.

HT Image

Besides, encouraging earnings reported by Hero MotoCorp also influenced market sentiments.

The 30-share index, which had lost 384.73 points in the previous two sessions, rebounded by 71.37 points, or 0.27%, to 26,070.71, with FMCG, power, capital goods and healthcare stocks, leading the recovery.

Also, the National Stock Exchange index Nifty edged higher by 13.40 points, or 0.17%, to 7,761.60.

Brokers said besides better corporate earnings, a firming trend in the Asian region after the American and European shares stabilised in response to upbeat US data, influenced sentiments in India.

Stocks of the country's largest two-wheeler maker, Hero MotoCorp, rose 1.17% to Rs 2,824.45 after the company reported 58.62% increase in net profit at Rs 763 crore for the second quarter ended September 30.

Among other Asian markets, Hong Kong's Hang Seng was up by 0.21% while Japan's Nikkei rose 0.39% in early trade on Friday.

The US Dow Jones Industrial Average shed 0.15% in Thursday's trade.