Mumbai: The stock markets bounced back today with the benchmark Sensex recovering over 142 points in early trade, largely on the back of revival of domestic buying as well as foreign funds along with short-covering in blue-chip stocks.
The BSE-30 share Sensex, which had been in the negative zone for a long spell, rebounded by 142.28 points at 13,080.37 in the first five minutes of trading. It had lost nearly 1,900 points since 9 February.
Similarly, the Nifty index on the wide-based National Stock Exchange was up by 34.75 points at 3,780.05.
The markets recovered as funds and general investors were seen accumulating stocks at prevailing low levels.
Stocks of Information Technology and Cement sectors that had faced massive selling yesterday were back in demand, helping Sensex to recover.
Other gainers were Reliance Industries, Reliance Energy, Reliance Capital, State Bank of India, ITC, Larsen and Toubro, ITC Ltd and Ranbaxy Lab.