Sensex recovers by 40 pts

Mumbai: The BSE benchmark Sensex recovered by 40 points in early trade today on the back of fresh buying in oil and gas, tech, FMCG, power and IT counters despite selling in the metal, auto, capital goods, consumer durable and healthcare sectors.

A bout of volatility was witnessed as the key benchmark indices resumed lower on weak Asian stocks, which fell after the US Federal Reserve lowered its growth forecast for the world`s biggest economy. US index futures, too, nudged lower.

The BSE benchmark Sensex resumed lower at 17,526.92 and hovered in a range between 17,608.30 and 17,482.21 before quoting at 17,590.90 at 1015 hours, showing a gain of 40.27 points, or 0.23 per cent, from its last close.

The NSE`s 50-share Nifty index also moved up by 4.50 points, or 0.09 per cent, to 5,282.80 at 1015 hours.

Asian stocks fell in early trade after the US Federal Reserve lowered its growth forecast for the world`s biggest economy, fueling global growth concerns. The key benchmark indices in Hong Kong, Indonesia, South Korea, Japan and Taiwan fell by between 0.27 per cent and 0.78 per cent. The key benchmark indices in China and Singapore rose by between 0.03 per cent and 0.24 per cent.