Sensex recovers 148 points in early trade on value buying

MUMBAI: The benchmark BSE Sensex rebounded over 148 points and the NSE Nifty regained the 7,700-mark in earlytrade on Monday on value-buying by investors in select blue-chips. 

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Besides, covering-up of short positions by speculators supported the recovery, brokers said. 

The 30-share index was trading higher by 148.11 points, or 0.59 per cent, at 25,350.01, with consumer durables, realty, auto, banking, IT The gauge had lost 562.88 points in the previous session to close at nearly 14-month lows amid lacklustre global cues following caution over US payrolls data. 

On similar lines, the NSE Nifty reclaimed the 7,700-mark by recovering 50.00 points, or 0.65 per cent, at 7,705.05 in early trade. 

Brokers said value-buying in recently beaten down select blue-chip stocks along with covering-up of short positions by speculators influenced trading sentiments. 

Furthermore, a moderate recovery in Chinese shares on the first day of trade after an extended holiday weekend, influenced trading sentiments, they said. 

Among Asian markets, Japan's Nikkei rose 0.55 per cent, while Shanghai Composite index up 0.77 per cent in early trade on Monday. Hong Kong's Hang Seng index was trading 0.13 per cent down. 

The US Dow Jones Industrial Average fell 1.66 per cent on Friday. 
and FMCG sector stocks leading the recovery. 

Source - TOI 

Sensex recovers 215 pts in early trade on positive global cues

MUMBAI: The benchmark BSE Sensex recovered over 215 points in early trade on Thursday on value-buying by participants amid positive global cues. 

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The 30-share barometer spurted by 215.57 points, or 0.84 per cent, to 25,669.13. The gauge had lost 937.82 points in the previous three sessions. 

The NSE Nifty rose 66.05 points, or 0.85 per cent, to 7,783.05 in early trade. Brokers said buying at prevailing low levels amid a firming trend at some Asian markets provided support to the market. 

Among other Asian markets, Japan's Nikkei was higher by 1.42 per cent in early trade on Thursday while financial markets in China and Hong Kong are closed on Thursday for a public holiday. 

The US Dow Jones Industrial Average ended 1.82 per cent higher in Wednesday's trade. 

Source - TOI 

Sensex recovers 33 points on late buying; Nifty ends in red

MUMBAI: Snapping its two-day fall, the BSE sensex on Wednesday recovered by 33 points to close at 27,564.66 points on late buying in banking, FMCG and oil stocks after recent falls and hopes of rate cut by the Reserve Bank. 

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Covering-up of short positions in select stocks in view of May month expiry in the derivatives segment on Thursday and hopes of rate cut by RBI helped the sensex to close in positive zone, brokers said. 

The wider 50-issue Nifty of NSE, however, closed down by 4.75 points, or 0.06 per cent at 8,334.60 points. 

Cautioned prevailed following disappointing earnings by Tata Motors and Tech Mahindra and overnight sell-off in the US markets on fears about Greek fiscal woes and speculation that the Federal will raise interest rates this year, brokers said. 

Market participants are expecting RBI to cut key rates in its June 2 policy meeting as inflation worries has eased, they added. 

After opening lower at 27,447.40 points, the BSE sensex continued to slide and touched the day's low of 27,363.72 points due to sustained selling. 

However, the sensex bounced back following emergence of value buying particularly in banking stocks in the last half-an-hour of trading on hopes of rate cut by RBI. The barometer settled higher by 33.25 points, or 0.12 per cent, at 27,564.66. 

The gauge had lost 426.09 points in the previous two sessions on lower-than-expected earnings from bluechip firms. 

Foreign portfolio investors bought shares worth Rs 114.81 crore on Tuesday, as per provisional the data. 

BHEL topped gainers' list by rising 3.34 per cent largely on covering-up of short positions and value-buying, followed by ONGC which rose by 2.70 per cent. 

Among banking stocks, Axis Bank rose by 2.26 per cent, HDFC Bank by 1.32 per cent and ICICI Bank by 1.1 per cent. 

State-run SBI gained 1.23 per cent. 

Snapping its two-day fall after lacklustre results, ITC was up by 1.10 per cent. 

Oil major ONGC gained 2.70 per cent while Coal India was up by 2.11 per cent. Coal India, Bharti Airtel, NTPC, Tata Power and L&T also posted gains.

Source - Times Of India