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BSE Sensex regains early momentum; up 53 points

Last Updated: Friday, May 24, 2013 - 17:16

Zee Media Bureau

Mumbai: Snapping its four-day long losing streak, the BSE benchmark Sensex on Thursday recovered by over 53 points in mid-session trade on emergence of buying by funds, tracking a firming trend in the Asian region.

The 30-share index, which had lost 612 points in the previous four sessions, rose by 53 points to 19,727.

Similarly, the wide-based National Stock Exchange index Nifty rose 19 points to 5,986.

Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 316.23 crore yesterday, as per BSE provisional data.

Brokers said emergence of buying by funds after four sessions of losses, driven by a firming trend on the Asian bourses largely in line with late recovery in US stocks in yesterday's trade, helped trading sentiments to improve.

Stocks of Tata Steel gained over 5 percent even as it posted higher-than-expected net loss for the quarter ended March, 2013.

Meanwhile, in Asia, Hong Kong's Hang Seng index rose by 0.35 per cent, while Japan's Nikkei recovered by 2.65 percent in early trade after falling over 7 percent the previous session.

The US Dow Jones Industrial Average ended a shade lower in yesterday's trade.

With PTI Inputs

First Published: Friday, May 24, 2013 - 09:47
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