Sensex recovers from initial losses, up 31 points

The 30-share barometer declined by 26.11 points, or 0.12 percent, to 20,931.70, with stocks of banking, IT, auto and metals sectors leading the fall.

PTI| Updated: Dec 06, 2013, 11:14 AM IST

Mumbai: The benchmark S&P BSE Sensex bounced back after initial dip, rising 31 points in morning trade today on fresh buying in capital goods, realty, power and refinery sectors amid strong foreign capital inflows despite weak Asian cues.

The 30-share index Sensex resumed steady at 20,955.74 and hovered in a range of 21,049.84 and 20,922.45 before quoting 20,989.73 points at 1030 hours.

It showed a gain of 31.32 points, or 0.15 percent, from its last close.

The NSE 50-share barometer Nifty also moved up by 13.20 points or 0.21 percent to 6,254.30 at 1030 hours.

Major gainers were - Hero Motocorp (2.64 pct), BHEL (2.17 pct), Coal India (1.98 pct), ONGC (1.79 pct), Bajaj Auto (1.43 pct), NTPC (1.15 pct) and Dr Reddy's Lab (1.07 pct).

Foreign institutional investors (FIIs) bought shares worth a net Rs 1,151.51 crore yesterday, as per provisional data from the stock exchanges.

Most Asian stocks fell in their early trade as investors awaited US employment data later in the global day today.

Key benchmark indices in Indonesia, Hong Kong, Singapore and China shed 0.24 to 0.8 percent while indices in Japan, South Korea, and Taiwan rose 0.16 to 0.32 percent.

US stocks fell yesterday with the Dow Jones Industrial Average and S&P 500 index dropping for the fifth straight session after a round of economic data left traders guessing as to when the Federal Reserve would begin tapering its stimulus programme.