After two sessions of losses, the benchmark BSE Sensex recovered sharply by over 127 points in early trade today on emergence of buying by funds and retail investors amid a firming trend in other Asian markets.
The 30-share index, which had lost 568.53 points in the previous two sessions, rose by 127.37 points, or 0.48 per cent, to 26,619.88, with all sectoral indices, led by realty and metals, trading in positive zone with gains up to 1.37 per cent.
Also, the National Stock Exchange index Nifty gained 39.10 points, or 0.49 per cent, to 7,972.
Brokers said a firming trend in the Asian region, tracking overnight gains in US markets boosted by speculation that the Fed is unlikely to start raising interest rates soon, influenced the sentiments here.
Prominent gainers that supported the Sensex were Infosys, TCS, Hindalco, HeroMotoCo, Mahindra and Mahindra, RIL, SBI and Sun Pharma.
Among other Asian markets, Hong Kong’s Hang Seng was up by 1.01 per cent while Japan’s Nikkei rose 0.23 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.59 per cent higher in yesterday’s trade.