Sensex recovers 110 points in opening trade
The BSE benchmark Sensex on Friday recovered by almost 110 points in the opening trade, with finance and other sector stocks rising on emergence of buying by funds and retail investors at prevailing low levels amid better trends on other Asian bourses.
The Sensex, which had lost 208.82 points in the previous session, rose by 109.74 points, or 0.60 per cent to 18,259.61 level, with banking, realty, auto and metal sector stocks leading the recovery.
Similarly, the broad-based National Stock Exchange index Nifty moved up by 36.40 points, or 0.66 per cent, to 5,483.05 points.
Market analysts said bargain buying by funds and retail investors at select counters, after sharp losses in the previous session helped stocks to trade at moderately higher levels.
Banking sector stocks, which faced selling pressure after the Reserve Bank of India on Thursday announced a hike of 25 basis points in key short-term lending and borrowing rates were back in green on select buying.
State Bank of India, the country's largest state-run lender, was trading 0.19 per cent higher at Rs 2623.10 a piece, while ICICI Bank was up by 0.50 per cent to Rs 1,017.50 a share.
In key Asian indices, the Japan's Nikkei rose by 3.05 per cent and Hong Kong's Hang Seng gained by 0.70 per cent in the morning trade on Friday.
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