Sensex regains 18,000 level in opening trade

The BSE benchmark Sensex regained the 18,000 points level in opening trade on Tuesday, shooting up by over 113 points on a fresh spell of buying by funds and retail investors, taking cues from the firming trend on other Asian bourses.

The 30-share index of the Bombay Stock Exchange, which lost 332.76 points in the previous session, recovered by 113.45 points, or 0.63 per cent, to 18,106.78 in the first few minutes of trade today, with oil and gas, auto, banking, realty and consumer durable stocks leading the recovery.

Similarly, the wide-based National Stock Exchange Nifty index also moved up by 28.50 points, or 0.53 per cent, to 5,415.05.

Brokers attributed the recovery in stocks to fresh buying by funds and retail investors, driven by a firming trend on other Asian bourses.

In addition, covering-up of pending short positions ahead of monthly expiry in the derivatives segment of the National Stock Exchange on Thursday also supported the recovery, they said.

Meanwhile, Japan’s Nikkei index was trading 0.11 per cent higher and Hong Kong’s Hang Seng Index gained 0.10 per cent in early trade today. The US Dow Jones Industrial Average ended 1.05 per cent lower in yesterday’s trade.