Sensex rebounds 100 pts on value-buying
Mumbai: Although the markets, remained closed on Friday on account of Christmas, the benchmark BSE Sensex recovered by 100 points in early trade on Monday. This was seen post, value-buying in blue-chip stocks amid covering-up of short positions ahead of the monthly derivatives expiry.
At the same time, the value of ruppee seemed stronger against the dollar and this send a mix trend in Asia.
With all the sectoral indices led by capital goods, oil and gas, power and banking trading in the right zone, there was a shift in the index from 0.39 per cent to 0.65 per cent. This came after the shed of 11.50 points in the previous session on Thursday.
Also, the NSE Nifty was quoting higher by 27.05 points, or 0.34 per cent, at 7,888.10.
The rise in the points, as sources said, was on account of the value-based buying at some blue-chip counters as well as the ruppee rising for the eighth straight session .
Besides, covering-up of pending short positions by speculators ahead of the futures and options expiry on Thursday supported the upside, they said.
Elsewhere in Asia, Japan’s Nikkei was up by 0.34 per cent while Hong Kong’s Hang Seng shed 0.44 per cent in early trade on Monday. The benchmark Shanghai Composite Index added points by 0.22 per cent. The US Dow Jones Industrial Average closed lower by 0.29 per cent in the previous session on Thursday.