Mumbai: The benchmark BSE Sensex recovered over 193 points and the Nifty regained the 9,800-mark in early trade on Wednesday on buying in banking, oil and FMCG stocks after recent losses.
Speculators covering up their short positions ahead of the August derivatives contract expiry tomorrow added to the upward move.
The BSE 30-share barometer rebounded by 193.39 points, or 0.61 percent, to 31,581.78. The gauge had lost 362.43 points in the previous session in line with a general weakness across the globe fuelled by North Korea's missile launch over Japan.
All the sectoral indices led by realty, metal, infrastructure and banking were in the green, adding up to 1.23 percent.
The NSE Nifty was also higher by 75.20 points, or 0.76 percent, to quote at 9,871.25.
Traders said a rebound at other Asian markets as investors shrugged off geopolitical tensions a day after North Korea fired a missile that flew over northern Japan influenced trading sentiments here.
Besides, fresh spell of buying by retail investors and uninterrupted buying by domestic institutional investors (DIIs) helped recover the market.
Adani Ports surged the most among Sensex components gaining 2.29 percent, followed by Sun Pharma (1.44 percent).
Other gainers included HDFC Ltd, Cipla, Axis Bank, Tata Steel, ICICI Bank, Hero MotoCorp, Maruti Suzuki, Coal India, Reliance Industries, SBI and Tata Motors, rising by up to 1.44 percent.
In Asian trade, Japan's Nikkei was up 0.55 percent while Hong Kong's Hang Seng rose 0.79 percent in early deals.
Shanghai Composite too edged higher 0.05 percent.
The US Dow Jones Industrial Average ended higher by 0.26 percent yesterday.
Updated Date: Aug 30, 2017 11:44 AM