Sensex recovers 157 points in early trade

Sensex recovers 157 points in early trade
Mumbai, May 2: Snapping four days of losses, the benchmark BSE Sensex rebounded over 157 points in early trade today on across the board buying by funds and retail investors amid a mixed trend in the Asian region.The 30-share index recovered by 157.18 points, or 0.70 per cent, to 22,574.98 with stocks of banking, capital goods, realty and healthcare sectors leading the gains. The index had lost over 458 points in the previous four sessions.Similarly, the National Stock Exchange index Nifty moved up by 40.55 points, or 0.61 per cent, to 6,736.95.The Bombay Stock Exchange, the National Stock Exchange were closed yesterday on account of “Maharashtra Day“.Brokers said emergence of buying by funds and retail investors tracking a mixed trend overseas, after the Federal Reserve said the US economy was picking, helped trading sentiments to improve.

Besides, covering-up of short positions by speculators supported the recovery, they said.

Among other Asian markets, Hong Kong’s Hang Seng index rose by 0.27 per cent, while Japan’s Nikkei down 0.24 per cent in the early trade.