Sensex recovers 81 points on value buying in opening trade
The benchmark BSE Sensex recovered by over 81 points in opening trade today largely on the back of value buying in blue-chip stocks such as Cipla, Reliance Industries and TCS.
Mumbai: The benchmark BSE Sensex recovered by over 81 points in opening trade on Tuesday largely on the back of value buying in blue-chip stocks such as Cipla, Reliance Industries and TCS.
The 30-share index rebounded 81.01 points, or 0.31 percent, to 25,888.11, with all sectoral indices led by consumer durables, healthcare, IT, FMCG, auto and capital goods stocks trading in the positive zone, rising by up to 1 percent.
The barometer had lost 233.60 points in the previous session.
Also, the NSE Nifty was trading higher by 20.70 points, or 0.26 percent, at 7,928.95.
Brokers said value-based buying at some blue-chip counters, which are heavily over-sold and covering-up of pending short positions by speculators ahead of the December futures and options expiry on Thursday supported the recovery.
Among the major gainers, pharma majors Cipla, Sun Pharma and Lupin rose up to 1.23 percent.
IT majors TCS and Infosys and oil gaint RIL also advanced helping the Sensex trade in the green.
Adani Ports, HDFC Bank and Tata Motors also rose up to 1.21 percent in early trade.
Elsewhere in Asia, Japan's Nikkei was up 0.28 percent in early trade today supported by buying in select shares, as global investors gradually returned to the market after the holiday break, while the benchmark Shanghai Composite Index shed 0.13 percent.
Financial markets in Hong Kong are closed for a public holiday.