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Sensex up 55 pts in opening trade on Asian cues

BSE

The benchmark BSE Sensex recovered over 55 points in early trade today on the back of fresh buying by funds
Network outage at BSEMumbai: The benchmark BSE Sensex recovered over 55 points in early trade today on the back of fresh buying by funds and retail investors amid positive cues from other Asian markets.

The 30-share barometer rose by 55.08 points, or 0.21 per cent, to 26,181.83 with stocks of healthcare, capital goods, banking, metal and power sectors leading the recovery.

The index had lost over 145.10 points in Friday session after FIIs and domestic funds took some profit in recent outperformers.

Similarly, the National Stock Exchange index Nifty moved up by 9.45 points, or 0.12 per cent, to 7,799.90.

Brokers said fresh buying by funds and retail investors, though selective, tracking a firming trend on the other Asian bourses helped trading sentiment to improve.

Stock of Larsen and Toubro rose 0.59 per cent to Rs 1,666.05 ahead of quarterly earnings.

Among other Asian markets, Hong Kong’s Hang Seng index rose by 1.04 per cent, while Japan’s Nikkei moved up by 0.47 per cent in early trade.

Rupee down 2 paise against dollar in early trade

The rupee weakened by two paise to 60.12 against the US dollar in early trade today at the Interbank Foreign Exchange on increased demand for the American currency from importers.

Besides, dollar’s strength against other currencies overseas also weighed on the rupee but a higher opening in the domestic equity markets capped losses, dealers said.

The rupee had edged up by two paise to end at 60.10 against the American currency in Friday’s trade on dollar selling by exporters.

Meanwhile, the benchmark BSE Sensex was up 55.08 points, or 0.21 per cent, at 26,181.83 in early trade today.

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