Mumbai:  The BSE benchmark Sensex recovered by nearly 37 points in early trade on Monday on selective buying by funds and retailers.

The 30-share barometer, which had lost nearly 130 points in the previous session, rose by 36.99 points, or 0.21 percent, to 17,410.83.

The wide-based National Stock Exchange index Nifty also moved up by 11.90 points, or 0.22 percent, to 5,302.75. Brokers said emergence of buying by funds and retail investors at select index-related stocks helped Sensex to trade in the positive zone.

Stocks of RIL, country's most valued company, traded 0.44 percent higher at Rs 734.65 despite it posted 21 percent dip in fourth quarter earnings which was reported after the close of trading hours on Friday.

In the Asian region, Japan's Nikkei rose by 0.40 percent, while Hong Kong's Hang Seng index was being quoted 0.33 percent lower in early trade.

The US Dow Jones Industrial Average ended 0.50 percent higher in the previous session on Friday.