Sensex up 100 pts; Nifty tops 8,400-mark on mixed global cues
Mumbai : The benchmark Sensex advanced by over 100 points in early trade today, building on yesterday’s recovery, as investors and domestic institutions widened their bets amid mixed global cues.
Short-covering by speculators ahead of January monthly derivatives contract expiry added to the upward move. Moreover, encouraging earnings numbers from India’s fourth-largest software services exporter, HCL Technologies, too added to the cheer.
NSE nifty also recaptured the 8,400-mark. The BSE 30-share barometer advanced 100.36 points, or 0.37 per cent, to 27,217.70. The gauge had gained 82.84 points in the previous session.
Sectoral indices led by consumer durables, power, banking, PSU, capital goods and metal stocks were in the green, adding up to 1.28 per cent.
The NSE Nifty went past the 8,400-mark by rising 36.20 points, or 0.43 per cent, to 8,427.70.
Early today, HCL Technologies reported a 7.8 per cent rise in consolidated net profit at Rs 2,070 crore for the third quarter ended December 2016.
Brokers said increased buying in select stocks coupled with covering-up of outstanding short positions ahead of the January month derivatives expiry had a positive impact.
A mixed trend on other Asian bourses too influenced sentiments, they said.
In the Asian region, Hong Kong’s Hang Seng was up 0.30 per cent, while Shanghai Composite index edged down 0.09 per cent in early trade today. Japan’s Nikkei fell 0.07 per cent.
The US Dow Jones Industrial Average ended lower by 0.14 per cent in yesterday’s trade.