The BSE benchmark Sensex today gained over 53 points in early trade on fresh buying by funds and retail investors amid a firm trend in Asian markets.
The 30-share barometer rose by 53.50 points, or 0.27 percent, to 19,977.28 with stocks of auto, IT, healthcare and capital goods sectors leading the recovery. The index had lost 102.83 points yesterday.
The wide-based National Stock Exchange index, Nifty, moved up by 8.60 points, or 0.14 per cent, to 6,027.95. Brokers said the trading sentiment turned slightly better on selective buying by funds and retail investors, taking positive cues from Asian markets, following overnight gains in the US market on the back of an improvement of the weekly jobless claims data.
In Asia, Hong Kong’s Hang Seng rose by 0.11 per cent, while the Japan’s Nikkei by 2.35 per cent in early trade. The US Dow Jones Industrial Average had ended 0.33 percent higher in yesterday’s trade.
Shares in Reliance Communications gained on Friday after The Economic Times newspaper reported the company was in talks to sell a stake in its mobile tower unit to Reliance Industries.
The Economic Times reported the deal could involve Reliance Industries’ unit Reliance Infotel buying a stake in Reliance Communications’ unit Reliance Infratel, citing two people close to the negotiations.
The newspaper also reported talks involved a leasing arrangement between the two units. Reliance Communications shares had slumped 9.14 percent on Thursday after posting a sharper-than-expected fall in its October-December quarter.
Shares in Reliance Communications were up 2.9 percent as of 9:35 a.m.. Reliance Industries shares were down 0.7 percent.