Sensex gains 130 points in early trade

The BSE benchmark Sensex on Friday recovered by over 130 points in early trade on emergence of buying by funds and retail investors amid a firming trend in the global markets.

Besides, covering-up of short positions by speculators in some stocks also helped trading sentiments to improve. The 30-share index rose by 130.02 points, or 0.59 %, to 21,870.11, with all the sectoral indices led by realty and capital goods were trading in positive zone, rising up to 0.97 %.

The index had lost 92.77 points in the previous session. The wide-based Nifty of the National Stock Exchange, regained 6,500 level by recovering 35.30 points, or 0.54 %, to trade at 6,518.40. Brokers said value-based buying by funds and retail investors at select counters, having strong fundamentals amid a better trend on the other Asian markets after US markets posted gains yesterday on fresh positive economic data, mainly buoyed the trading sentiment here.

In other Asian markets, Hong Kong's Hang Seng gained 0.16 % in early trade today, while Japan's market closed for a public holiday. The US Dow Jones Industrial Average ended 0.67 % higher on Thursday.