Tuesday, May 21, 2013

BSE Sensex recovers by 35 points in early trade

Mumbai,21 2013:--

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The BSE benchmark index Sensex today recovered by over 35 points in early trade on selective buying by funds and retail investors in banking, IT and oil stocks.

The 30-share index, which had lost 62.14 points in the previous session, rose by 35.41 points, or 0.18 per cent, to 20,259.39 points.

The wide-based National Stock Exchange index Nifty gained 8.85 points, or 0.14 per cent, to trade at 6,165.75 points.

Brokers said fresh buying by funds and retail investors after yesterday\'s profit-booking helped select stocks to stage a comeback.

They said a weak trend in the Asian region following overnight losses at the US market limited the gains.

Among gainers, Reliance Industries was up by 0.74 per cent, HDFC by 1.14 per cent and ICICI Bank by 0.36 per cent.

IT majors Infosys, Wipro and TCS posted gains of up to 1.20 per cent in early trade.

In Asia, Hong Kong\'s Hang Seng index was down 0.37 per cent, while Japan\'s Nikkei shed 0.63 per cent.

The US Dow Jones Industrial Average ended 0.12 per cent lower in yesterday.

Nifty futures on the Singapore Exchange are 0.02 percent up and the MSCI-Asia Pacific index excluding Japan is 0.12 percent lower.

The dollar nursed losses versus a basket of currencies on Tuesday, having retreated the previous day as traders pared back expectations that U.S. Federal Reserve Chairman Ben Bernanke would hint at tapering bond buying this week.

News From: http://www.7StarNews.com

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