Sensex recovers from initial losses, up 186 pts

The benchmark BSE Sensex recovered from its initial losses and was quoted higher by 186 points in the morning trade on fresh buying mainly in healthcare, consumer durables, capital goods, refinery and realty counters on the back of higher global cues.
Renewed capital inflows from foreign funds also boosted the market sentiment.
The Sensex resumed lower at 26,573.89 and dropped further to 26,503.08 on initial selling pressure. However, it recovered immediately to 26,880.50 before quoting at 26,817.02 at 1000 hours, showing a gain of 185.73 points, or 0.70 per cent from its last close.
The NSE 50-share Nifty also rose by 58.85 points, or 0.74 per cent to 8,034.35 at 1000 hours.

Major gainers were Sun Pharma (2.12 pct), Hero Motors (1.90 pct), Coal India (1.81 pct), ONGC (1.56 pct), TCS (1.38 pct), Dr Reddy's Lab (1.19 pct), HDFC (1.18 pct), Maruti (1.18 pct) and Bajaj Auto (1.18 pct).
Asian stocks gained in choppy trade after the US Federal Reserve after a two-day policy meet renewed a pledge to keep interest rates near zero for a considerable time.
The US Fed in a statement announced a further USD 10 billion reduction in its monthly purchases, leaving the programme on course to be shuttered next month.
Key benchmark indices in China, Singapore, Taiwan and Japan rose by 0.23 per cent to 1.07 per cent, while indices in Hong Kong and South Korea fell by 0.68 per cent to 0.71 per cent.