Sensex snaps losing string, recovers 107 pts
Mumbai: Snapping the last 10-day losing string, the BSE benchmark Sensex recovered by 107 points in late morning trade on Monday on fresh buying in realty, PSU, refinery, power, consumer durable and banking sectors amid higher Asian cues.
Volatility may remain high on the bourses this week as traders roll over positions in the futures & options (F&O) segment from the near month March 2013 series to April 2013 series. The March 2013 F&O contracts will expire on Thursday.
The BSE-30 share index, Sensex, resumed higher at 18,894.13 and hovered in a range of 18,950.22 and 18,841.24, before quoting at 18,842.41 points at 1035hrs.
It showed a rise of 106.81 points or 0.57 percent from its last weekend's level.
The NSE 50-share index Nifty also moved up by 35.50 points or 0.63 percent quoting 5,686.85 at 1035 hrs.
Major gainers were ONGC (4.19 percent), NTPERCENT (2.40 percent), HDFC (2.30 percent), Jindal Steel (2.02 percent), Maruti Suzuki ((1.40 percent), SBI (1.25 percent) and Hindalco Ind (1.23 percent).
Asian stocks rose in the early trade after an agreement by Cyprus to an international bailout reduced the threat of its default.
Key benchmark indices in Hong Kong, Indonesia, Japan, Singapore, Taiwan and South Korea rose by 0.5 to 1.45 percent while China's Shanghai Composite fell 0.16 percent.