Sensex recovers 115 points in early trade on Asian cues

Mumbai : The BSE benchmark Sensex rebounded about 115 points in early trade today on fresh buying in select bluechips amid a firm trend in Asian markets. The 30-share index was trading higher by 114.94 points or 0.36 per cent to 31,776.91 with all the sectoral indices led by realty, auto, FMCG, metal and bank leading the recovery.

The gauge had lost 147.58 points yesterday, tracking global weakness on lingering worries about North Korea and the rupee hitting three-week low against the dollar. The NSE Nifty was up 48.65 points or 0.49 per cent at 9,964.85 in early trade.

Stocks of Reliance Industries in ex-bonus transaction, was quoting higher by 0.07 per cent at Rs 822.90 against the previous close of Rs 1,645.40 (cum-bonus). The company has rewarded its shareholders with a one bonus share for every share held.

Other gainers were Adani Ports, Dr Reddy’s, M&M, Hero MotoCorp, Kotak Bank, ICICI Bank, Maruti Suzuki, Coal India, Axis Bank, Sun Pharma, Wipro and Bharti Airtel, rising by up to 1.55 per cent. Brokers said emergence of buying coupled with a better trend in other Asian markets following overnight gains at the Wall Street lifted the stocks. Investors welcomed US President Donald Trump’s deal to raise the US debt ceiling.

Among other Asian markets, Hong Kong’s Hang Seng was up 0.23 per cent, while Japan’s Nikkei gained 0.37 per cent in early trade today. Shanghai Composite Index, however, shed 0.23 per cent. The US Dow Jones Industrial Average ended 0.25 per cent higher yesterday.