Sensex recovers 112 points on global cues in early trade

The BSE-30 share index which lost 95.59 points on Wednesday, stages a strong comeback at 15,812.27 in first five minutes of trading.

Tracking global markets, the Bombay Stock Exchange benchmark Sensex recovered by more than 112 points in early trading on Thursday on the back of buying by funds in heavy-weight blue chip stocks.

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The BSE-30 share index, Sensex, which had lost 95.59 points on Wednesday, staged a strong comeback to quote 112.94 points to 15,812.27 in first five minutes of trading.

Similarly, the wide-based National Stock Exchange's Nifty rose by 26.20 points at 4,614.90.

Stock brokers said reports of rising trend in global markets and expectations of strong first quarter earnings from corporate majors, mainly spared buying activities on the bourses.

They said reports that IT bellwether Infosys Technologies has signed 250 million US dollar outsourcing contract with Royal Philips Electron of the Netherlands too influenced the trading sentiments.

Infosys Technologies stocks quoted Rs 10.05 higher at Rs 2,000 on increased buying by funds.

Other major gainers were Reliance Industries, State Bank of India, Larsen and Toubro, BHEL, Wipro, Satyam Computers, Tata Motors, Tata Steel, Bajaj Auto and Maruti Udyog.