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Sensex recovers 124 points on global cues

PTI 15 Jun 2012, 10:56:30 IST
Mumbai, June 15: The BSE benchmark Sensex recovered by over 124 points in early trade today on fresh spell of buying by funds and retailers amid a strong trend in Asian markets.

The 30-share barometer, which had lost 202.63 points in yesterday's trading on inflation concerns, rebounded by 124.20 points, or 0.74 per cent, to 16,802.08.

All sectoral indices, led by banking, realty and oil and gas, rose by up to 1.05 per cent.

Similarly, the wide-based National Stock Exchange index Nifty, was trading 38.10 points, or 0.75 per cent, higher at 5,092.85.

Brokers said buying by funds and retail investors, triggered by a firm trend on Asian bourses in line with gains at the US market on speculation of more economy-boosting stimulus measures from the Federal Reserve, helped trading sentiment to improve.

In the Asian region, Japan's Nikkei was up by 0.31 per cent, while Hong Kong's Hang Seng index gained 0.81 per cent in early trade. The US Dow Jones Industrial Average ended 1.24 per cent higher in yesterday's trade.