The stock markets recovered smartly on the back of rally in Asian indices and the benchmark Sensex was up by nearly 281 points during morning trading while Foreign Institutional Investors (FIIs) slowed down activity.
The Bombay Stock Exchange (BSE) 30-share barometer opened stronger at 19,689.79 against yesterdays close of 19,590.78 and moved to a high of 19,871.56.
However, it fell back substantially due to profit sales later and was quoted at 19,750.04 at 10.30 am.The broader S&P CNX Nifty of the National Stock Exchange (NSE) also jumped to a high of 5,944.45 before being quoted at 5,906.50 at 10.30 am, a net rise of 59.20 points over previous close of 5,847.30.Besides China, most of the Asian stock markets were traded in the green after initial hesitance, impacting positively on the local bourses.
All-round buying was seen as all sectoral indices were trading on firm ground in early trade.
Foreign Institutional Investors (FIIs) sold shares worth Rs 1093.16 crore (provisional) on October 5 after pulling out Rs 761.40 crore on October 2.