Mumbai: The benchmark BSE Sensex recovered about 121 points and the Nifty regained the 9,400-mark in early trade on Wednesday on fresh buying by investors amid better- than-expected earnings.
Speculators covering up their short positions ahead of the May derivatives contract expiry tomorrow added to the upward move.
The BSE 30-share barometer rebounded by 120.54 points, or 0.40%, to 30,485.79. The gauge had lost 205.72 points in the previous session after investors booked profits amid volatile global cues in the aftermath of a terror attack in the UK.
Sectoral indices led by auto, capital goods, power, realty and metal were in the green, adding up to 0.99%.
The NSE Nifty was also higher by 22.35 points, or 0.24%, to quote at 9,408.50.
Traders said fresh spell of buying by retail investors and domestic institutions coupled with covering-up of outstanding short positions ahead of the May derivatives expiry helped recover the market.
Shares of Tata Motors surged 3.22% to Rs 464.60 even as the company yesterday posted fall in its earnings for the quarter ending March 31, 2017.
In Asian trade, Japan’s Nikkei was up 0.48% while Shanghai Composite shed 0.45 per cent in early trade today.
Hong Kong’s Hang Seng fell 0.04%.
The US Dow Jones Industrial Average ended higher by 0.21% on Tuesday.