Sensex gains 48 points in early trade

The BSE benchmark Sensex recovered by over 48 points in early trade today after yesterday's steep fall, on the back of selective buying by funds in stocks of consumer durables, capital goods and metal.

The 30-share barometer rose by 48.24 points, or 0.26 per cent to 18,909.78. The index had lost 290.87 points in the previous session to touch three-month low.
Similarly, the wide-based National Stock Exchange index Nifty moved up by 12.30 points, or 0.22 per cent, to 5,705.35.

Brokers said emergence of buying by funds in select stocks and covering-up of short positions by speculators, helped trading sentiments to improve but a weak trend in overseas markets restricted the gains.

In the Asian region, Hong Kong's Hang Seng was down 0.27 per cent, while Japan's Nikkei by 0.82 per cent in early trade today. The US Dow Jones Industrial Average ended 0.15 per cent lower in yesterday's trade.