Sensex gains by 117 points

Mumbai: The BSE Sensex rose by nearly 117 points in opening trade today after the DMK put on hold the resignation of six of its ministers from the UPA government at the Centre.

The 30-share index of the Bombay Stock Exchange, which lost over 267 points in the previous two sessions, bounced back to trade higher by 116.93 points, or 0.64 per cent, vis-a-vis the previous close at 18,339.60 in opening trade today. Capital goods, auto, healthcare, banking and metal stocks led the recovery.

Similarly, the wide-based National Stock Exchange Nifty index also moved up by 19.60 points, or 0.35 per cent to 5,482.75 points.

Brokers said funds and retail investors engaged in fresh buying of stocks available at lower levels after the sustained decline over the past two sessions amid fresh developments on the political front after the DMK, a key ally of the UPA government at the Centre, put on hold the resignation of six ministers.

In addition, a firming trend on other Asian bourses also influenced the trading sentiment here at home.

Japan`s Nikkei index was up by 0.08 per cent and Hong Kong`s Hang Seng Index by 0.33 per cent in early trade today.