Sensex recovers after 3-day losing streak

Snapping its three-session losing streak, the BSE benchmark Sensex today rose by over 195 points to trade above the 19,000 level in early trade on buying by funds and retailers, after Finance Minister P Chidambaram announced that more economic reforms are on the anvil. Besides, a firming trend in the Asian region influenced the trading sentiment. The 30-share barometer rose by 195.52 points, or 1.04 per cent, to 19,022.68 with stocks of realty, consumer durables, metal, capital goods, banking and sectors leading recovery.

The index had lost 613.91 points in the previous three sessions. Similarly, the wide-based National Stock Exchange index, Nifty moved up by 58.15 points, or 1.02 per cent, to 5,757.25. Brokers said the sentiment turned better on revival of buying by funds and retail investors after the Finance Minister signalled more reforms to boost economic growth.

Further, a firming trend in the Asian region following overnight gains at the US market on the back of upbeat economic data, too, influenced the sentiment, they said. Meanwhile in Asia, Japan's Nikkei was up by 2.59 per cent, while Hong Kong's Hang Seng gained 0.99 per cent in early trade. The US Dow Jones Industrial Average ended 1.21 per cent higher yesterday.

With inputs from PTI