Mumbai: The benchmark BSE Sensex recovered by over 111 points in early trade on Thursday after two sessions of sharp losses, on value-buying by investors amid a firming trend at other Asian markets.
The 30-share index rebounded by 111.64 points, or 0.41%, to 26,948.84, with stocks of oil & gas, capital goods, IT, realty and infrastructure sectors leading the recovery.
The gauge had lost 1,011.79 points in the previous two sessions after RBI took a cautious stance on the economic recovery and fears of a drought in the country after the Met department projected monsoon this year to be “deficient”.
Also, the NSE Nifty was up 24.95 points, or 0.30%Â , at 8,160.05 in early trade.
Brokers said value-buying in recently beaten-down blue-chip stocks, coupled with a firming trend at other Asian markets tracking overnight gains in the US following solid private sector job data, influenced sentiment.
Among other Asian markets, Japan’s Nikkei rose 0.32%Â while Hong Kong’s Hang Seng gained 0.33%Â in early trade on Thursday.
The US Dow Jones Industrial Average ended 0.36%Â higher on Wednesday’s trade.