Sensex recovers in early trade on selective buying

The equity benchmark Sensex gains 0.24%, with realty and auto sector stocks leading the rise  

 

Brokers said emergence of buying by funds at existing lower levels and covering up of short positions amid a mixed trend in the Asian region mainly influenced the trading sentiments. Photo: Mint

Mumbai: The BSE benchmark Sensex recovered over 43 points in early trade on Monday on emergence of selective buying by funds at existing lower levels amid a mixed Asian trend.

Snapping its three-day long losing streak, the 30-share barometer gained by 43.49 points, or 0.24%, to 18,493.72, with realty and auto sector stocks leading the recovery. The index had lost over 590 points in the last three sessions.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 11.45 points, or 0.21%, to 5,564.70.

Brokers said emergence of buying by funds at existing lower levels and covering up of short positions amid a mixed trend in the Asian region mainly influenced the trading sentiments.

Meanwhile, in Asia, Japan’s Nikkei spurted by 2.01%, while Hong Kong’s Hang Seng index fell 0.41% in early trade.

The US Dow Jones Industrial Average ended 0.28% lower in previous session on Friday due to worse- than-expected jobs report. 

TOUHID HUSSAIN 

PGDM 2nd SEM