Sensex recovers over 336 points in early trade on global cues

After three sessions of losses, the benchmark BSE Sensex recovered by over 336 points to trade above the 27,000-mark in early trade on Thursday on emergence of buying by funds and retail investors amid a firming trend in global markets.

The 30-share index, which had lost 979.08 points in the previous three sessions, recovered sharply by 336.88 points, or 1.25 per cent, to 27,245.70, with all sectoral indices led by metal, banking and capital goods, trading in positive zone with gains up to 1.59 per cent.

Also, the National Stock Exchange index Nifty regained the 8,200-mark by surging 99.65 points, or 1.23 per cent, to 8,201.75. Coal India Ltd (CIL) shares were up by 2.1 per cent at Rs 383 after coal workers yesterday called off their nationwide strike as the government assured trade unions that the state-run CIL will not be privatised and employees' interest will be protected. Brokers said sentiments were boosted by revival of buying by funds and retail investors amid gains at other Asian markets and overnight rally at the New York and European markets on upbeat US employment data. Among other Asian markets, Hong Kong's Hang Seng was up by 0.51 per cent while Japan's Nikkei rose 1.67 per cent in early trade today. The US Dow Jones Industrial Average ended 1.23 per cent higher in yesterday's trade.