The BSE benchmark index Sensex today recovered by over 35 points in early trade on selective buying by funds and retail investors in banking,IT and oil stocks.
The 30-share index,which had lost 62.14 points in the previous session,rose by 35.41 points,or 0.18 per cent,to 20,259.39 points.
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The wide-based National Stock Exchange index Nifty gained 8.85 points,or 0.14 per cent,to trade at 6,165.75 points.
Brokers said fresh buying by funds and retail investors after yesterday’s profit-booking helped select stocks to stage a comeback.
They said a weak trend in the Asian region following overnight losses at the US market limited the gains.
Among gainers,Reliance Industries was up by 0.74 per cent,HDFC by 1.14 per cent and ICICI Bank by 0.36 per cent.
IT majors Infosys,Wipro and TCS posted gains of up to 1.20 per cent in early trade.
In Asia,Hong Kong’s Hang Seng index was down 0.37 per cent,while Japan’s Nikkei shed 0.63 per cent.
The US Dow Jones Industrial Average ended 0.12 per cent lower in yesterday.
Indian stocks to watch-May 21
(Reuters): GLOBAL MARKETS ROUNDUP
Nifty futures on the Singapore Exchange are 0.02 percent up and the MSCI-Asia Pacific index excluding Japan is 0.12 percent lower.
The dollar nursed losses versus a basket of currencies on Tuesday,having retreated the previous day as traders pared back expectations that U.S. Federal Reserve Chairman Ben Bernanke would hint at tapering bond buying this week.
U.S. stocks ended little changed on Monday,with indexes hovering near record levels as concerns about a correction cut earlier gains that had been prompted by news about a flurry of acquisitions. The Dow and the S&P 500 briefly hit all-time intraday highs.
FACTORS TO WATCH
March-quarter earnings from Tech Mahindra Ltd.
China offers India a “handshake across the Himalayas”.
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Finance minister bats for merger of PSU Banks.
Oil ministry recommends gas price hike to $6.7.
Titan to halt expansion of large Tanishq stores.
BHEL decides to exit power project Jvs.
Coal India Q4 standalone net profit rises 90 pct on dividend income.
Telecom cartel killed spectrum auctions; govt failed to act against them: CAG.
India’s Essar Oil to sign $1 bln debt-for-fuel deal with China.
Indian gold jewellers face shortage of stocks,premiums still high.
India’s SREI Infrastructure Jan-March net up five fold.
Hotel LeelaVenture posts March-qtr net loss.
India’s MTNL plans to raise up to 19.95 bln rupees via bond in June.
India sees strong foreign investor demand for govt debt quotas.
India’s SAIL sees 30 pct jump in coking coal imports post expansion.
India says foreign investors may buy inflation-linked bonds.
India’s IFCI Jan-March net down 31.51 pct.
Tata Teleservices Maharashtra says promoter Tata Sons to sell 1 pct stake.
India finance minister: will take more steps to curb gold imports if needed.
StanChart to buy Morgan Stanley India wealth management arm.
India central bank cuts time for exporters to repatriate earnings.
Gammon Infra in talks with global companies to partner in Indira Container Terminal at Mumbai Port.
United Stock Exchange sets up a clash with BSE over debt trading.
Suzlon in talks to repay investors,by issuing USD notes,after dollar bond default.
Essar Energy Holdings to buy 2.41 pct stake in Essar Oil.
Jubilant Lifesciences arm recalls drug from US market.
IL&FS eyes acquisitions to grow merchant banking.
Ex-executives may face off to buy MphasiS.