The BSE benchmark Sensex today recovered by nearly 135 points in early trade, snapping its seven-session losing streak on buying by funds and retail investors after the government approved liberalisation of FDI norms in a dozen sectors amid a firming trend in Asian region.
The 30-share index gained 134.51 points, or 0.69 per cent, to trade at 19,451.70, with consumer durables, FMCG, IT and oil and gas sector stocks leading the recovery. The barometer had lost almost 986 points in the previous seven sessions.
The wide-based National Stock Exchange index Nifty rose by 34.00 points, or 0.59 per cent, to trade at 5,761.85.
Brokers said the trading sentiment turned better after the government yesterday approved liberalisation of FDI norms in a dozen sectors, including 100 per cent in telecom and higher caps in insurance and defence sectors, to boost the sagging economy.
Besides, a firming trend in the Asian region following overnight gains on the US market encouraged by strong data also supported the sentiment, they said.
In Asia, Hong Kong's Hang Seng index rose by 0.54 per cent, while Japan's Nikkei was up by 1.94 per cent in early trade.The US Dow Jones Industrial Average ended 0.83 per cent higher in yesterday's trade.
