Sensex recovers on funds buying

Stock brokers say apart from funds buying, short-covering by speculators helped trading sentiments to improve. Track Sensex LIVE

Tracking global trends, the Bombay Stock Exchange benchmark index Sensex, recovered by nearly 99 points on Thursday morning on emergence of buying by funds and retail investors.

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The 30-share sensitive index, which lost about 121 points on Wednesday, recovered by 98.70 points at 14,189.62 in the first five minutes of trade on funds buying in heavyweight stocks.

Similarly, the National Stock Exchange index, Nifty, rose by 27.55 points at 4,110.25.

Stock brokers said apart from funds buying, short-covering by speculators helped trading sentiments to improve.

Major support came in from stocks such as Reliance Industries, Reliance Energy, BHEL, Larsen and Toubro, Infosys Technologies, Satyam Computers, ITC Ltd, Hindustan Lever, ICICI Bank, Maruti Udyog, Ranbaxy Lab and State Bank of India.

However, Tata Steel stocks continued to remain under selling pressure and quoted further lower at Rs 458.