Sensex recovers 107 points in early trade
Shrugging-off fuel price hike impact, the BSE benchmark Sensex rises 107 points in early trade on buying by funds in select stocks.Updated: Jun 05, 2008 10:50 IST
Shrugging-off fuel price hike impact, the Bombay Stock Exchange benchmark Sensex on Thursday rose 107 points in early trade on buying by funds in select stocks.
The 30-share index, which had plunged by over 447 points on Wednesday, recovered by 107.09 points at 15,611.88 in the first five minutes of trade.
The wide-based National Stock Exchange's Nifty gained 38.20 points to 4,623.80.
Marketmen said the fuel price hike was discounted as the market had already tanked over 900 points on concerns of fuel price hike in the last three sessions.
They said a weakening trend in the US and other Asian market failed to influence the trading sentiments here.
The gainers which helped Sensex to quote in the positive zone were ONGC, Grasim Industries, HDFC Ltd, Infosys Technologies, Satyam Computers, Tata Consultancy, SBI, ITC Ltd, Larsen and Toubro and Ranbaxy.
However, Reliance Industries stocks remained in negative territory on some selling.