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Sensex recovers by 117 points

Mumbai:  The BSE benchmark Sensex today recovered by over 117 points in the opening trade on emergence of buying by funds and retail investors at prevailing levels, amid better-than-estimated third quarter earnings by some corporates.

The Sensex, which had lost 181.83 points in the previous session on Tuesday, rose by 117.24 points, or 0.61 per cent to 19,086.69 with banking, capital goods and oil and gas sector stocks leading the recovery.

Similarly, the broad-based National Stock Exchange index Nifty, moved up by 38.70 points, or 0.68 per cent, to 5,726.10.

Marketmen said bargain buying by funds and retail investors at select counters, after sharp losses in the previous session helped stocks to trade higher.

Banking sector stocks, which had suffered sharp setback after the Reserve Bank of India announced a hike of 25 basis points in its key rates–short-term lending and borrowing on Tuesday, were back in positive zone on fresh buying.

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