Sensex recovers from early lows, up 83 points
The markets bounced from their early lows and the benchmark Sensex was quoted 83 points up at 1030 hrs on Wednesday as buying emerged from investors amid weak global cues and apprehensions about the fourth quarter results due next week.
Foreign Institutional Investors (FIIS) and domestic players reportedly were creating fresh positions in equity at the prevailing lower levels, market players said.
Touching a low of 15,464.72, the Bombay Stock Exchange 30-index recovered smartly and was quoted at 15,670.24 at 1030 hrs, a rise of 82.62 points over its previous close of 15,587.62.
The broader 50-share S&P CNX Nifty of the National Stock Exchange also was up 15.10 points at 4,724.75 at 1030 hrs from its last close of 4,709.65.
FIIs and operators seem taking fresh positions ahead of the announcement of fourth quarter results, which could be a major trigger for the market, they added. Asian indices, however, were substantially down in early trade.