Mumbai: The Sensex regained the crucial 16,000-point level in opening trade on the Bombay Stock Exchange on Monday, surging by over 326 points on fresh buying triggered by a firming trend in other Asian markets.

The 30-share BSE index, which has lost nearly 650 points over the past three sessions, surged by 326.37 points, or 2.06 percent, to 16,175.20 in the first few minutes of trade on Monday.

The wide-based National Stock Exchange Nifty index also opened higher by 90.05 points, or 1.90 percent, at 4,837.85.     
All the sectoral indices, led by IT, were trading in the positive zone, with gains of up 2.93 percent.

Brokers attributed the widespread recovery in stock prices to a firming trend in other Asian markets on the back of gains recorded in the US market on Friday after Federal Reserve chief Ben Bernanke's prediction of long-term economic growth for the US.

Meanwhile, in the Asian region, Japan's Nikkei Index rose by 0.9 percent and Hong Kong's Hang Seng Index by 0.54 percent in early trade on Monday. The Dow Jones Industrial Average ended 1.21 percent higher in the previous session on Friday.

(Agencies)