Sensex up 148 points on value buying; nifty regains 7,700-mark
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The benchmark BSE Sensex gained over 148 points and the NSE Nifty regained the 7,700-mark in early trade on Monday on value-buying by investors in select blue-chips.
Besides, covering-up of short positions by speculators supported the recovery, brokers said.
The 30-share index was trading higher by 148.11 points, or 0.59%, at 25,350.01, with consumer durables, realty, auto, banking, IT and FMCG sector stocks leading the recovery.
The gauge had lost 562.88 points in the previous session to close at nearly 14-month lows amid lacklustre global cues following caution over US payrolls data.
On similar lines, the NSE Nifty reclaimed the 7,700-mark by recovering 50.00 points, or 0.65%, at 7,705.05 in early trade.
Brokers said value-buying in recently beaten down select blue-chip stocks along with covering-up of short positions by speculators influenced trading sentiments.
Furthermore, a moderate recovery in Chinese shares on the first day of trade after an extended holiday weekend, influenced trading sentiments, they said.
Among Asian markets, Japan's Nikkei rose 0.55%, while Shanghai Composite index up 0.77% in early trade on Monday.
Hong Kong's Hang Seng index was trading 0.13% down.
The US Dow Jones Industrial Average fell 1.66% on Friday.
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