BSE Sensex, NSE Nifty recover as funds, retail investors buy

Aug 08 2013, 10:14 IST
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National Stock Exchange index Nifty, gained 6.30 points, or 0.11 per cent, to 5,525.40. (Reuters) National Stock Exchange index Nifty, gained 6.30 points, or 0.11 per cent, to 5,525.40. (Reuters)
SummaryBSE Sensex lost over 517 points in the previous two sessions.

Snapping a two-day losing streak, the BSE Sensex recovered by over 27 points in early trade today on emergence of buying by funds and retail investors in select stocks at existing levels amid a firming trend at other Asian bourses. Similarly, the broad-based NSE Nifty, gained 6.30 points, or 0.11 per cent, to 5,525.40.

The 30-share barometer, which had lost over 517 points in the previous two sessions, rose 27.35 points, or 0.15 per cent, to 18,692.23 on the back of recovery in auto, realty and consumer durable stocks.

Brokers said selective buying by participants at prevailing lower levels amid a firm trend in other Asian bourses, helped sentiments to improve.

Besides, covering-up of short positions by speculators also supported the recovery, they said.

Meanwhile in the Asian region, Hong Kong's Hang Seng index was up by 0.51 per cent and Japan's Nikkei by 0.73 per cent in early morning trade.

The US Dow Jones Industrial Average ended 0.31 per cent lower in yesterday's trade.

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