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Sensex gains 102 points in early trade

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sensexMumbai:  Snapping its two-session losing streak, the benchmark BSE Sensex recovered over 102 points to 27,311 in early trade today as the January series in derivatives segment commenced on fresh buying by participants.

The 30-share index, which had lost 493.18 points in the previous two sessions, rose by 102.83 points, or 0.38 per cent, to trade at 27,311.44 with power, capital goods, infrastructure, banking and metal sector stocks leading the rise.

On similar lines, the National Stock Exchange index Nifty surged by 44.85 points, or 0.55 per cent, to 8,218.95.

Stocks of Reliance Capital were trading 1.32 per cent higher at Rs 503.90 after the company roped in Japan’s Sumitomo Mutsui Trust Bank as strategic partner to collaborate on various businesses, including its proposed banking venture.

Brokers said fresh positions built up by participants, following beginning of January series in the derivatives segment and value-based buying in select counters, helped trading sentiments to improve.

However, buyers preferred to keep their commitments restricted due to absence of global cues in view of closure of most of the markets on account of “Christmas”, they added.

Among other Asian markets, Japan’s Nikkei shed 0.17 per cent in early trade, while Hong Kong’s financial markets will remain closed today.

PTI

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