Sensex recovers sharply by 208 points on rise in IT shares

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Mumbai, Sep 20: The BSE benchmark Sensex rose by 208 points in early trade today, following a rise in IT, consumer durables, metal and FMCG counters.

The BSE benchmark Sensex resumed higher at 16,768.63 and hovered in a range between 16,959.31 and 16,758.69 before quoting at 16,953.51 at 1015 hours, showing a net gain of 208.16 points, or 1.24 per cent, from its last close.

The NSE''s 50-share Nifty also moved up by 52.85 points, or 1.05 per cent, to 5,084.80 at 1015 hours.

IT stocks rose on a weak rupee. The Indian rupee fell to its weakest level in two years in early trade as worries over Europe''s debt crisis deepened after Standar.

PTI

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