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Sensex recovers over 45 points in early trade

Tuesday, 29 April 2014 - 10:41am IST | Place: Mumbai | Agency: PTI

The benchmark BSE Sensex recovered over 45 points in early trade today on emergence of buying by funds and retail investors in select stocks on encouraging earnings amid a firming trend overseas.

The 30-share barometer, which had lost almost 245 points in the previous two sessions, rose 45.03 points, or 0.20%, to 22,676.64 on the back of recovery in healthcare, tech, consumer durables and oil & gas sector stocks. Similarly, the broad-based National Stock Exchange index Nifty, gained 13.40 points, or 0.20%, to 6,774.65. Brokers said selective buying by participants on the back of encouraging earnings announced by some companies and a firming trend in the global markets helped sentiments to improve.

Stocks of Idea Cellular rose 2.59% to Rs 144.40 after the company yesterday posted over 91% jump in consolidated net profit at Rs 589.77 crore for the last quarter of 2013-14. Bharti Airtel also found buying support and gained 0.18% to Rs 338.50 ahead of its fourth quarter results to be announced today. Meanwhile, among other Asian markets, Hong Kong's Hang Seng was up 0.18% in early trade today, while Japan's Nikkei remained closed for a public holiday. The US Dow Jones Industrial Average ended 0.53% higher in yesterday's trade.

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