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Sensex up 65 points on buying by funds

The Bombay Stock Exchange index Sensex opened higher on Wednesday by 65 points on fresh buying by funds, tracking firming Asian markets.

The 30-share index, rose by 65.38 points, or 0.44 per cent, to 14,559.22 in the first five minutes of trade on the back of recovery in capital goods, auto and fast moving consumer goods (FMCG) sector stocks. The BSE barometer yesterday lost over 200 points.

The wide-based National Stock Exchange index Nifty gained 26.25 points, or 0.44 per cent, at 4,317.35 points.

Marketmen said firming trends in other Asian stock markets triggered fresh spell of buying in the domestic markets.

Covering-up of short positions by speculators at prevailing levels also influenced the trend, they added.

Among gainers which helped Sensex stage comeback were Reliance Industries by 0.39 per cent to Rs 2,031.25, ONGC by 1.48 per cent to Rs 1,082.90, Reliance Infra by 1.44 per cent to Rs 1,214.70, RCom by 0.81 per cent to Rs 292.25, BHEL by 0.49 per cent to Rs 2,215.25 and Larsen and Toubro by 1.06 per cent to Rs 1,585.

Japan’s Nikkei rose by over one per cent in early trade, while Hong Kong financial markets remained closed for a public holiday.

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Sensex up 65 points on buying by funds

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