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Sensex recovers 152 points in early trade on funds buying

Thursday, 15 May 2014 - 10:02am IST | Agency: PTI

The benchmark BSE Sensex rebounded nearly 152 points in early trade on Thursday as funds and investors indulged in enlarging positions ahead of the outcome of the Lok Sabha elections amidst a mixed trend in Asian markets.

The 30-share index, which had slipped from record-high levels by falling 56.11 points in on Friday's trade, recovered by 151.78 points, or 0.64%, to trade at 23,966.90.

All the sectoral indices, led by realty and consumer durables, were trading in the positive zone with gains up to 1.86%.

On similar lines, the broader National Stock Exchange index Nifty rose by 43.80 points, or 0.61%, to 7,152.55.

Brokers said the sentiment remained strong on continued capital inflows and widespread buying by retail investors ahead of the outcome of the Lok Sabha elections tomorrow.

Besides, encouraging quarterly earnings by some more companies, including Tata Steel, also triggered buying activity, they said.

Stocks of Tata Steel spurted by 2.55% to Rs 463.70, its highest level since May 2012 after the company on Friday reported Rs 1,036 crore consolidated net profit for the January-March quarter.

Among other Asian markets, Hong Kong's Hang Seng index rose by 0.66%, while Japan's Nikkei fell 0.88% in early trade on Thursday.

The US Dow Jones Industrial Average ended 0.61% lower in on Friday's trade.

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