Sensex recovers 53 points in opening trade on Asian cues

MUMBAI: The benchmark BSE Sensex recovered by almost 53 points in early trade today on buying in pharma, IT, consumer durables and FMCG stocks after recent losses.

The 30-share index rebounded by 52.74 points, or 0.15 per cent, to 33,423.50. The gauge had retreated from record high by losing 360.43 points in the previous session.

Sectoral indices led by healthare, IT, consumer durables, teck and auto were leading the recovery, adding up to 1.09 per cent.

The NSE Nifty also moved up by 22.55 points, or 0.21 per cent, to trade at 10,372.70.

Traders said foreign fund inflows and small gains at most of other Asian markets influenced trading sentiments here.

Foreign institutional investors bought equities worth Rs 461.47 crore yesterday, as per the provisional data.

In the Sensex kitty, major gainers included Axis Bank, Cipla, Sun Pharma, Dr Reddy's, Lupin, Wipro, TCS, Asian Paint, Hindustan Unilever,Bajaj Auto, M&M, Hero MotoCorp, L&T, Maruti Suzuki and Infosys, gaining up to 3.90 per cent.

In Asia, Hong Kong's Hang Seng rose 0.44 per cent while Shanghai Composite index up 0.54 per cent in early trade today. Japan's Nikkei, however, was down 0.28 per cent after hitting a 25-year high in yesterday's trade.

The US Dow Jones Industrial Average ended 0.04 per cent higher yesterday.