Sensex Rises Over 230 Points, Tracking A Modest Recovery In Global Stocks

Stock Market India: Equity benchmarks rose in early trade, after recovering some of their losses toward the end of close in the previous session.

Indian equity benchmarks rose in early trade on Wednesday, after recovering some of their steep losses toward the end of close in the previous session, tracking a modest turnaround on Wall Street, which overnight ended a losing streak of four sessions even as recession fears persist.

The BSE Sensex index rose 233.34 points to 61,935.63 in early trade, and the NSE Nifty index opened in the green, reflecting the improved sentiment in Asian indexes.

Global markets were stunned after the Bank of Japan (BOJ) unexpectedly opted to allow long-term rates to swing 50 basis points each side of its 0 per cent target on Tuesday, rather than the previously announced 25 basis point range, even as the central bank maintained its current broad policy stance.

After Tuesday's decline brought on by Japan's unexpected policy review, Asian markets recovered.