Sensex bounces back by 183 points in opening trade

Mumbai, Jan 12 (PTI) The BSE benchmark Sensex todayrecovered by over 183 points in the opening trade, snappingits six-session losing streak, on selective buying by funds,and a firm trend on the other Asian bourses.

The Sensex, which had lost nearly 1,365 points in lastsix sessions, rose by 183.21 points to trade at 19,379.55 withbanking, IT, oil and gas and realty sectors leading therebound.

Similarly, the broad-based National Stock Exchange indexNifty, shot up by 61.65 points to 5,815.75 points.

Marketmen said fresh spell of buying by funds and retailinvestors, supported by a firming trend on the other Asianbourses after overnight gains on the US market, influenced thetrading sentiment here.

They said, however, cautious approach ahead of Novemberindustrial output data to be announced today and fears of ahike in interest rates by the Reserve Bank of India, cappedthe gains.

In the Asian region, the Hong Kong''s Hang Seng was up by0.89 per cent, while Japanese Nikkei gained 0.51 per cent inthe morning trade today.

The US Dow Jones Industrial Average ended 0.30 per centhigher in yesterday''s trade.