Sensex gains 89 points in early trade

The benchmark index gains moderately as most major shares except RIL register gains in the initial session.

The Bombay Stock Exchange benchmark Sensex recovered by over 89 points on Thursday on fresh buying by funds and general investors in blue-chip stocks.

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The 30-share index was up by 89.50 points at 12,702.40 on the back of fresh buying in the first five minutes of trade.

Similarly, the wide-based National Stock Exchange index, Nifty, was up by 20.70 points at 3678.00.

The major gainers were Grasim Industries, Larsen and Toubro, Dr Reddy's, HDFC, Wipro, Tata Motors, BHEL, TCS and Infosys Technologies.

However, index heavyweight Reliance Industries stocks faced selling pressure following a major fire at the company's refinery and quoted Rs 3.85 lower at Rs 1190.30.