MUMBAI: Indian shares climbed more than 1 percent in early trade on Wednesday, tracking small gains in their Asian peers. Energy major Reliance Industries and financial stocks led the rise.
The BSE benchmark Sensex opened over 200 points up today on bargain buying triggered by firming trend on other Asian bourses after yesterday's losses.
The 30-share index of the Bombay Stock Exchange, which lost over 271.84 points in the previous session, rebound by 200.42 points or 1.10 per cent to 18,368.06 level, with oil and gas, metals, realty and banking stocks, leading the recovery.
Similarly, the wide-based National Stock Exchange Nifty index also moved up by 57.65 points or 1.05 per cent to 5,507.30 points.
Brokers attributed the rise to fresh buying by funds and retail investors, driven by recovery on other Asian bourses after yesterday's meltdown in the wake of last week's devastating earthquake in Japan.
Metal sector stocks were back in demand, supported by recovery in base metals at the London Metal Exchange, they said.
Meanwhile, Japan's Nikkei index was trading 4.43 per cent higher but Hong Kong's Hang Seng Index was down by 0.27 per cent in early trade today.
At 9:18 a.m. (0348 GMT), the 30-share BSE index was up 1.1 percent at 18,363.27 points, with 28 of its components gaining.
The 50-share NSE index was up 1 percent at 5,502.40
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