Sensex recovers by 107 points in opening trade

Mumbai: The BSE benchmark Sensex recovered by nearly 107 points in opening trade on Wednesday on the back of fresh buying by funds and retail investors after small losses on Tuesday.

The 30-share index of the Bombay Stock Exchange, which lost 14.91 points in the previous volatile session, rebounded by 106.61 points, or 0.54 per cent, to 19,793.43 with metals, auto and power sector stocks rising.

Similarly, the wide-based National Stock Exchange Nifty index also moved up by 28.25 points, or 0.48 per cent, to 5,938.30 points.

Brokers attributed the recovery in opening trade to fresh buying by funds and retail investors on expectations of better fourth quarter earnings, but a weak trend in global market and rising crude oil prices capped the gains.

Meanwhile, Japan`s Nikkei index was trading 0.11 per cent lower and Hong Kong`s Hang Seng Index shed 0.05 per cent in early trade today. The Dow Jones Industrial Average at the US market ended 0.05 per cent lower on Tuesday`s trade.