Sensex gains 28 points in early trade

The benchmark Sensex rose marginally in early trade on January 24, reversing its two-session losing streak on buying in select bluechips by domestic investors amid positive Asian cues.

Investor sentiment, however, was cautious amid global headwinds, turning key indices choppy.

The 30-share index gained 28.27 points, or 0.08%, at 36,136.74 after rising to 36,1789.36 at the outset. It also slipped below the 36,000-mark to touch a low of 35,996.68 in early trade. The gauge had lost 470.49 points in the previous two sessions. In a similar movement, the NSE Nifty edged up by 3.65 points, or 0.03 %, to 10,835.15.

After many days, Nifty saw a strong reaction, as the index formed a strong bearish candle which indicates the dominance of sellers, said an Emkay Global Financial Services report.

“With this fall, the index has breached its prior 5-day low. After several failed attempts to breach the 11,000 level and strong reaction, there is a mark of strong resistance. Still, the index is in an ascending triangle and the breakout of it will dictate further trend,” it added.

Bombay Stock Exchange - BSE

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