Sensex recovers 117 points in opening trade

Mumbai, Jan 27 (PTI) The BSE benchmark Sensex todayrecovered by over 117 points in the opening trade on emergenceof buying by funds and retail investors at prevailing levels,amid better-than-estimated third quarter earnings by somecorporates.

The Sensex, which had lost 181.83 points in the previoussession on Tuesday, rose by 117.24 points, or 0.61 per cent to19,086.69 with banking, capital goods and oil and gas sectorstocks leading the recovery.

Similarly, the broad-based National Stock Exchange indexNifty, moved up by 38.70 points, or 0.68 per cent, to5,726.10.

Marketmen said bargain buying by funds and retailinvestors at select counters, after sharp losses in theprevious session helped stocks to trade higher.

Banking sector stocks, which had suffered sharp setbackafter the Reserve Bank of India announced a hike of 25 basispoints in its key rates--short-term lending and borrowing onTuesday, were back in positive zone on fresh buying.