BSE Sensex recovers from early losses, up 31 points

Oct 22 2013, 12:08 IST
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Stocks of banking, oil and gas, realty, auto and FMCG sectors were the major losers. (Ap) Stocks of banking, oil and gas, realty, auto and FMCG sectors were the major losers. (Ap)
SummaryStocks of banking, oil and gas, realty, auto and FMCG sectors were the major losers.

The BSE Sensex recovered by 31 points in late morning trade today on fresh buying in IT, power, tech and PSU sector stocks on the back of persistent capital inflows from foreign funds.

The BSE-30 share barometer resumed lower at 20,863.15 points and moved down further to 20,849.78 on initial selling in view of lower Asian advices.

However, it recovered afterwards to 20,948.91 before quoting 20,923.91 at 1030 hours, showing a gain of 30.02 points, or 0.14 per cent, from its last close.

The NSE Nifty also looked up by 2.95 points, or 0.05 per cent, to 6,207.90 at 1030 hours.

Major gainers were - Wipro (2.05 per cent), Tata Power Company/b> (1.88 per cent), Coal India (1.79 per cent), Tata Consultancy Services (1.18 per cent), Tata Steel (1.15 per cent), Hindalco Industries (1.06 per cent) and Bharat Heavy Electricals Ltd (BHEL) (0.75 per cent).

Foreign institutional investors (FIIs) bought shares worth a net Rs 1031.79 crore yesterday, as per provisional data from the stock exchanges.

Asian markets were trading on a cautious note as investors awaited US jobs data which will determine when the Federal Reserve would start tapering.

Key benchmark indices in South Korea, Taiwan, Hong Kong, China and Indonesia fell by 0.06 to 1.02 per cent while indices in Singapore and Japan rose by 0.15 to 0.38 per cent.

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