Sensex recovers 69 points in early trade
The benchmark BSE Sensex recovered by over 69 points in early trade on Thursday on selective buying by investors and covering-up of short positions by speculators in view of monthly expiry in the derivatives segment amidst positive global cues.
The 30-share barometer, which had lost over 462 points in the previous two sessions, recovered by 69.51 points, or 0.25 per cent, to 26,814.20. Also, the National Stock Exchange index Nifty gained 16.90 points, or 0.21 per cent, to 8,019.30. Brokers said apart from selective buying by participants, covering-up of short positions by speculators as today being the last trading session of September expiry influenced sentiments.
Besides, a firming trend on the other Asian bourses following a sizable overnight rebound on the US markets, also supported the recovery on the domestic markets here, they said. However, shares of RIL fell 0.26 per cent to Rs. 962.40 and ONGC plunged 1.83 per cent to Rs. 406 after the government yesterday postponed a decision on revision of natural gas prices by another 45 days to November 15.
Among other Asian markets, Japan’s Nikkei rose 1.22 per cent while Hong Kong’s Hang Seng was also trading 0.53 per cent higher in early trade. The U.S. Dow Jones Industrial Average ended 0.90 per cent up in yesterday’s trade.