The benchmark Bombay Stock Exchange (BSE) Sensex recovered over 91 points in early trade on Monday as funds and retail investors made fresh buying on the back of strong corporate earnings.
Snapping its two-day losing streak, the 30-share barometer rose 91.06 points, or 0.38%, to 24,308.40, on gains in capital goods, PSUs, oil & gas, realty and power sector stocks. The gauge had lost 338.75 points in the past two sessions.
Similarly, the National Stock Exchange (NSE) index Nifty moved up by 25.35 points, or 0.35%, to 7,255.30.
Brokers said fresh buying by participants, triggered by Larsen and Toubro’s strong earnings, helped the Sensex to trade in positive territory even as the country’s economic growth data for 2013-14 are disappointing. The L&T stock was trading 4.06% higher at Rs 1,611.85.
India’s economic growth remained subdued at 4.7% in 2013-14 and at 4.6% in the fourth quarter of FY’14. Among other Asian markets, Japan’s Nikkei was trading 1.79% higher while financial markets in Hong Kong are closed today for a public holiday.
The US Dow Jones Industrial Average ended 0.11% higher in Friday’s trade.
Source : http://www.dnaindia.com/money/report-sensex-up-91-points-in-early-trade-1992878