Sensex bounces back by 183 points in opening trade

Mumbai: The BSE benchmark Sensex on Wednesday recovered by over 183 points in the opening trade, snapping its six-session losing streak, on selective buying by funds, and a firm trend on the other Asian bourses.

The Sensex, which had lost nearly 1,365 points in last six sessions, rose by 183.21 points to trade at 19,379.55 with banking, IT, oil and gas and realty sectors leading the rebound.

Similarly, the broad-based National Stock Exchange index Nifty, shot up by 61.65 points to 5,815.75 points.

Marketmen said fresh spell of buying by funds and retail investors, supported by a firming trend on the other Asian bourses after overnight gains on the US market, influenced the trading sentiment here.

They said, however, cautious approach ahead of November industrial output data to be announced today and fears of a hike in interest rates by the Reserve Bank of India, capped the gains.

In the Asian region, the Hong Kong`s Hang Seng was up by 0.89 per cent, while Japanese Nikkei gained 0.51 per cent in the morning trade today.

The US Dow Jones Industrial Average ended 0.30 per cent higher in yesterday`s trade.