Sensex recovers 297 points in opening trade

Sensex recovers 297 points in opening trade

Covering up of short positions by speculators also influenced the trading.

The BSE-30 share index, Sensex, which had lost over 1,510 points in the past four sessions, surged by 297.69 points, or 2.22 per cent at 13,698.01 in opening trade with the sectoral indices trading in positive with gains up to 4.43 per cent.

Similarly, on the wide-based National Stock Exchange, Nifty gained 87.60 points, or 2.20 per cent at 4,061.65.

Stock brokers said firming global stock markets mainly influenced the sentiments here, triggering all-round buying.

Major gainers Reliance Industries moved up by 2.15 per cent to Rs 1,785.35, Reliance Infra by 4.45 per cent to Rs 1,009.65, Rcom by 3.61 per cent to Rs 245.60, Mahindra and Mahindra by 3.20 per cent to Rs 698.05 and Maruti Suzuki by 1.34 per cent to Rs 1,080.60.
Further, DLF Ltd inched up by 4.60 per cent to Rs 281.70, Tata Steel by 3.51 per cent to Rs 350.80, Sterlite Industries by 2.75 per cent to Rs 600.25.

Stocks of HDFC Bank traded 1.40 per cent higher at Rs 1,393.80, while ICICI Bank gained 5.75 per cent at Rs 668.15.

The US Dow Jones Industrial Average ended 2.27 per cent higher on Monday, while most of the Asian stock markets were trading with gains over 2 per cent higher in morning trade.

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