Sensex recovers over 45 points in early trade

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.