Sensex up 149 points in early trade as govt notify FDI in retail

Sep 21, 2012 |

mumbai

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The BSE benchmark Sensex on Friday recovered by almost 149 points in early trade on buying by funds and retail investors after the government notified its decision to allow FDI in the multi-brand retail sector.

The 30-share barometer, which had lost nearly 193 points in the past two sessions, recovered by 148.57 points, or 0.81 per cent, to 18,497.82 points with all the sectoral indices led by capital goods and realty, were trading in positive zone with gains up to 1.32 per cent.

The wide-based National Stock Exchange index Nifty, regained psychological the 5,600-level, by rising 47.95 points, or 0.86 per cent, to trade at 5,602.20.

Brokers said emergence of buying by funds as well as retail investors after the government on Thursday went ahead implementing its decisions to allow FDI in multi-brand retail and liberalise foreign investment in aviation and broadcasting sectors, buoyed the trading sentiment.

Further, a firm trend in the Asian region, too, supported the recovery here, they said.

In the Asian region, Japan's Nikkei was up by 0.61 per cent, while Hong Kong's Hang Seng gained 0.52 per cent in early trade on Friday.

The US Dow Jones Industrial Average ended 0.14 per cent higher in Thursday's trade.

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