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BSE Sensex recovers 335 pts on corporate earnings

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Sectoral indices were trading in positive territory with gains up to 2.70 pct. (AP) Sectoral indices were trading in positive territory with gains up to 2.70 pct. (AP)
SummarySectoral indices were trading in positive territory with gains up to 2.70 pct.

The BSE Sensex rebounded over 335.02 points in early trade today on fresh buying activity driven by encouraging corporate earnings and a firming trend in the Asian region.

The 30-share index, which had lost 1,044.96 points in the past seven sessions, recovered by 335.02 points, or 1.66 per cent, to 20529.42 points.

The wide-based index of the NSE Nifty, moved up by 105.70 points, or 1.76% per cent to 6095.30.

All the sectoral indices were trading in the positive territory with gains up to 2.70 per cent.

Brokers said fresh spell of buying by funds and retail investors in bank, realty, auto, capital goods, oil and gas and and power stocks, triggered by encouraging second quarter earnings announced by some companies and further recovery in the rupee, lifted the market.

They said, firming trend in overseas markets, too influenced the trading sentiment here.

Stocks of Tata Steel, the sixth largest steel producer in the world, gained 2.83 per cent to Rs 369 after company posted a consolidated net profit of Rs 916.77 crore for the second quarter ended September 30.

In Asia, Hong Kong's Hang Seng Index was up 0.92 per cent, while Japan's Nikkei Index was being quoted 1.40 per cent higher in morning trade today.

The US Dow Jones Industrial Average closed 0.45 per cent higher in yesterday's trade.

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