Sensex regains 51 points in early trade ahead of earnings

The benchmark Sensex rebounded by 51 points in opening trade after IT, realty and teck stocks rose on optimistic buying by investors ahead of announcement of quarterly results.

The 30-share index rose by 51.78 points, or 0.15 %, at 34,484.85, in opening trade with IT, realty, teck, power and auto leading the recovery by rising up to 0.80 %. The gauge had shed 10.12 points in the previous session following profit-booking at record levels.

Also, the NSE Nifty traded higher by 9.05 points, or 0.08 %, at 10,641.25 in the opening trade.

Traders said widening of bets by investors ahead of Q3 numbers from IndusInd Bank and TCS, to be released later in the day amid buying by domestic institutional investors (DIIs) influenced sentiment.

DIIs bought shares to the tune of Rs 600.24 crore, while Foreign institutiional investors (FIIs) sold shares worth Rs 572.26 crore yesterday, as per the provisional data.

Support came from key stocks such as Infosys, ONGC, Tata Motors, Kotak Bank, ITC Ltd, Dr Reddy’s, Maruti Suzuki, HDFC Ltd, Adani Ports, Power Grid, Hindustan Unilever and M&M, rising by up to 1.04 %.

On the other hand, trend at other Asan markets was weak in line with overnight losses at the Wall Street. Japan’s Nikkei falling 0.52 % while Hong’s Hang Seng shed 0.24 % in their early trade.

China’s Shanghai Composite index too was down 0.30 %

Wall Street fell for the first time in 2018 with the Dow Jones Industrial Average dropping 0.07 % yesterday.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)