Sensex recovers over 50 points ahead of F&O recovery

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The benchmark BSE Sensex gained over 50 points in early trade on Thursday. The recovery came on sustained buying by DIIs amid a mixed trend in other Asian bourses.

Short-covering of bets, being the last session of April expiry in the derivatives segment supported the recovery.

The 30 share index rose 57.35 points (0.16 percent) to trade 34558.62 in early trade. Earlier, it had lost 115.37 points in the previous session.

Realty, metal, healthcare, infrastructure, auto, FMCG, and power sectors led the recovery.

The broader 50 shares NSE Nifty too was trading 32.70 points (0.30 percent) high at 10586.90.

Brokers said sustained buying by domestic institutional investors and a mixed trend at other Asian bourses, tracking overnight gains at Wall Street, mainly influenced sentiment here.

Major gainers were TCS, Tata Steel, M&M, Yes Bank, RIL, HUL, Infosys, SBI, HDFC Bank, Maruti Suzuki, Asian Paints, IndusInd Bank, Maruti Suzuki, Bajaj Auto, Power Grid and Dr. Reddy’s with gains of up to 0.98 percent.

However, Wipro, tumbled 3.62 percent to Rs 276.80 after the company yesterday reported over 20 percent decline in its consolidated profit to Rs 1800.8 crore for the March quarter, 2017-18.

The country’s third largest software services firm had registered a profit of Rs 2267-crore in the year-ago period.

Meanwhile, on a net basis, Foreign Portfolio Investors (FPIs) sold shares worth Rs 304.79 crore yesterday while Domestic Institutional Investors (DIIs) bought shares worth Rs 435.98 crore, a provisional data showed.

In other Asian markets, Hong Kong’s Hang Seng shed 0.77 percent while Japan’s Nikkei was up to 0.59 percent. China’s Shanghai Composite index too was down by 0.98 percent in early deals.

The US Dow Jones Industrial Average ended 0.25 higher in yesterday’s trade.

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