Markets recover, Sensex adds 50 pts

Written by Agencies | Mumbai, August 28: | Updated: Aug 28 2008, 15:47pm hrs
The Bombay Stock Exchange benchmark Sensex gained 50 points in early trade on Thursday on selective buying by funds amid short-covering by speculators.

The BSE 30-share index, which had lost 185.43 points on Wednesday, rose by 50.40 points at 14,347.19 on funds buying in stocks led by technology and banking sectors.

Similarly, the National Stock Exchange's index Nifty gained 12.40 points to 4,304.50.

Marketmen said apart from selective buying by funds, covering-up of short positions by speculators as the August contract in derivatives segment is ending today also aided moderate recovery in stock prices.

They said, however, major players were cautious ahead of the inflation data to be released later today.

Major gainers were RCom, Reliance Infra, HDFC Ltd, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys Technologies, Satyam Computers, Wipro, Sterlite Industries, Tata Motors and Mahindra and Mahindra.