Sensex moves in tight range; trading below 18,500

Sensex moves in tight range; trading below 18,500 Mumbai: The BSE benchmark Sensex rose by over 43 points in early trade Wednesday, led by recovery in stocks of consumer durables and healthcare sectors, on emergence of buying by funds amid a firming trend in Asian region.

The 30-share barometer rebounded by 43.24 points, or 0.23 percent, after yesterday's steep losses, to 18,474.09.

Similarly, the wide-based National Stock Exchange index, Nifty moved up by 9.10 points, or 0.16 percent, to 5,607.00.

The Sensex had yesterday plunged by 205 points to a five-week low as RBI not only held on to policy rates but also hiked provisioning norms and lowered growth projection.

Brokers said fresh buying by participants amid a firm trend in Asian region following the Bank of Japan's announcement of fresh monetary easing steps and overnight gains on European markets, mainly led the recovery on the domestic bourses here.

In Asian region, Hong Kong's Hang Seng index rose 0.58 percent, while Japan's Nikkei gained 1.18 percent in early trade today.

PTI