Sensex rose 124 points in opening trade

The Bombay Stock Exchange benchmark Sensex rose by nearly 124 points in opening trade Wednesday, spurred by a firming trend in Asian markets.

The 30-share benchmark index, which lost 41.50 points in the previous session on Monday, recovered by 123.91 points, or 0.74 per cent, to 16,929.24 in opening trade.

In a similar fashion, the wide-based National Stock Exchange Nifty index moved up by 23.45 points, or 0.47 per cent, to 5,062.60.

Realty, auto, banking, capital goods and consumer durables stocks led the recovery.

Brokers said fresh buying by funds and retail investors amid a firming trend in other Asian markets ahead of a crucial European Union summit that will focus on tackling the euro zone's debt crisis gave a boost to the trading sentiment.

However, stocks of retail firms were under pressure after the government put its decision on FDI in multi-brand retail on hold.

Stocks of Pantaloon Retail fell by 2.52 per cent to Rs. 181.70, while Shoppers Stop was down by 2.20 per cent at Rs. 357.90 in opening trade.

In Asia, Hong Kong's Hang Seng Index was up 0.77 per cent, while Japan's Nikkei Index rose by 0.72 per cent in morning trade today. The U.S. Dow Jones Industrial average ended 0.43 per cent higher in Tuesday's trade.

Sensex regained the 16,000 points level today

The BSE benchmark Sensex regained the 16,000 points level in early trade today, surging by 301 points on fresh buying in metal, realty, power, capital goods, FMCG and banking stocks in view of a firming trend in Asian markets.
   
The BSE benchmark Sensex resumed higher at 15,890.80 points and shot up further to an early high of 16,016.52 before quoting at 15,996.06 at 1015 hours, a net gain of 300.63 points, or 1.92 percent, from last weekend's close.
   
The NSE's 50-share Nifty index also moved up by 86.60 points, or 1.84 percent, to 4,796.65 at 1015 hours.
   
The market breadth was strong and all 13 sectoral indices on the BSE were trading in the green. Index heavyweight Reliance Industries (RIL) edged higher in early trade. Metal stocks also gained as global commodity prices rose. All the shares in the 30-member Sensex pack were trading higher.
   
The major gainers in early trade were Hindalco Industries (up 4.14 percent), Tata Motors (3.38 percent), Sterlite Industries (3.10 percent), BHEL (3.02 percent) and DLF (2.97 percent).
   
Meanwhile, Asian shares shot up in early trade as investors reacted to reports of steps being taken by European governments and international agencies to get a grip on the euro zone debt crisis.
   
The key benchmark indices in China, Hong Kong, Indonesia, Japan, Singapore, South Korea and Taiwan were up by between 0.13 percent and 1.79 percent.