The Bombay Stock Exchange benchmark Sensex today moved up by nearly 105 points in early morning trade on emergence of buying by funds, triggered by overnight gains on the US market.
The 30-share Sensex, which had lost 155.02 points in the previous trading session, rose by 104.53 points to 17,590.59 points in early trade.
The wide-based National Stock Exchange index Nifty also moved up by 31.05 points to 5,256.70 points.
Brokers attributed the recovery in share prices to revival of buying by funds on the back of overnight gains on the US market.
The US markets yesterday surged driven by good earnings reports amid expectations of some political changes in the Massachusetts’ Senate race. The US Dow Jones Industrial Average ended 1.07 per cent higher on Tuesday.
Besides, better-than-expected quarterly earnings by some corporates also supported the recovery in the domestic bourses, they added.
Major gainers which supported the Sensex rally this morning were Reliance Industries up by one per cent to Rs 1,096, Reliance Infra by 1.18 per cent to Rs 1,135.50, Infosys by 0.97 per cent to Rs 2,662, TCS by 0.86 per cent to Rs 787.30 and Wipro by 0.68 per cent to Rs 742.50.
Following the rise in the US market other Asian and European markets also opened in the black today morning.