Sensex gains 67 points, trading below 18,800
Mumbai: Reversing an early downward trend, the BSE benchmark on Friday recovered over 67 points on the back of fresh buying mainly in IT, tech, power and auto sector stocks.
Besides, recovery in the rupee from record lows also helped trading sentiments to improve, brokers said.
The Sensex after falling over 79 points in early trade, staged a comeback to quote 67.39 points, or 0.36 percent, to 18,786.68. The Sensex had lost over 526 points in yesterday's trade.
The NSE 50-share Nifty also firmed up 21.95 points, or 0.39 percent, to 5,677.85 at 1215 hrs.
Stocks of software exporters caught investors' fancy on hopes a weak rupee would improve their overseas earnings. The country's software exporting companies get over 60 percent of their revenue from the US and European markets.
The BSE IT sector index recovered by 0.81 percent to 5,974.17 as Infosys up by 1.06 percent to Rs 2,392.10, TCS by 1.12 percent to Rs 1,419.90, while Wirpo by 0.58 percent to Rs 349.45.
Other gainers were Maruti Suzuki (1.09 percent) Mahindra and Mahindra (1.17 percent), Bajaj Auto (0.47 percent), Hero MotoCorp (2.56 percent), Reliance (1.12 percent) Dr Reddy Lab (1.24 percent), Larsen and Toubro (0.55 percent) and Coal India (0.79 percent).
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