Mumbai, Feb. 2 -- Domestic stock markets recovered from early losses and moved into positive territory in early trade on Monday after opening lower amid selling pressure triggered by the hike in Securities Transaction Tax (STT) announced in the Union Budget.

The benchmark Nifty 50 index opened at 24,796.50, down by 28.95 points or 0.12 per cent, while the BSE Sensex opened at 80,555.68, slipping 167.26 points or 0.21 per cent. However, the indices soon pared losses, with the Nifty gaining 0.3 per cent in the early trading session, while the Sensex jumped 372 points.

Market participants remained cautious following the sharp reaction seen after the Budget, but selective buying helped the benchmarks recover from the opening lows.

Ajay Bag...