Sensex opens 78 points higher on Asian cues

Mumbai: The Bombay Stock Exchange benchmark Sensex recovered by over 78 points in opening trade on Wednesday on emergence of selective buying by funds and retail investors amid a firming trend on other Asian bourses.

The 30-share barometer, which has lost almost 394 points in the previous two sessions, recovered by 78.54 points, or 0.43 per cent, to 18,215.89 in opening trade, with stocks of the metals, capital goods, realty and banking sectors leading the recovery.

The wide-based National Stock Exchange index Nifty also moved up by 17.85 points, or 0.33 per cent, to 5,456.80.

Brokers said fresh buying by funds and investors at prevailing levels and a firming trend on other Asian bourses mainly helped the trading sentiment to improve, but rising interest rates remained a dampening factor.

Meanwhile, Hong Kong`s Hang Seng Index rose by 0.03 per cent and Japan`s Nikkei by 0.88 per cent in early trade today.

In the US, the Dow Jones Industrial Average ended 0.55 per cent lower in yesterday`s mixed trade.