Sensex up 86 points in late morning deals

The BSE Sensex recovered from its weak start to trade 86.22 points higher in late morning trade today on buying in FMCG, telecom, IT, consumer durables and metal sectors amid weak Asian cues.

Investors remained cautious on escalating trade tensions between the US and other leading economies, including the EU, China and India.

Selling was witnessed in energy, industrials, healthcare and power stocks.

The 30-share index was trading at 35,556.57, showing a gain of 86.22 points, or 0.24 per cent at 1105 hrs.

The broader Nifty-50 index was trading lower by 24.70 points, or 0.23 per cent, at 10,787.15.

Major gainers were Coal India 3.05 per cent, Bharti Airtel 1.47 per cent, HDFC 1.44 per cent, ITC 1.01 per cent and Asian Paints 0.95 per cent.

Losers included Tata Motors 2.24 per cent, ICICI Bank 1.47 per cent, RIL 1.36 per cent and Tata Motors 0.92 per cent.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 198.68 crore on net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 86.22 crore yesterday, provisional data showed.

Overseas, Asian markets fell as investors continued to worry about global trade relations.

US stocks declined yesterday, as President Donald Trump's threats of more protectionism against major partners were met with Chinese and European vows of retaliation.