Mumbai: The benchmark BSE Sensex regained the 27,000-mark by surging over 150 points in early trade on Wednesday on continued buying by participants amid good quarterly earnings and a firming trend overseas as investors await the outcome of the US Federal Reserve policy meeting. Besides, covering-up of short positions by speculators ahead of monthly expiry in the derivatives segment, supported the rally.
The 30-share barometer regained the psychological 27,000-mark for the first time since September 23 by surging 150.26 points, or 0.56%, to 27,031.08 with all the sectoral indices, led by auto, realty an oil & gas, trading in positive zone with gains up to 0.97%.
The gauge had gained 127.92 points in the previous session on rising rate cut hopes and good earnings. Also, the National Stock Exchange index Nifty gained 38.80 points, or 0.48%, to 8,066.40.
Brokers said besides sustained buying by investors on hopes of further reforms and encouraging earnings by some more bluechip companies, covering-up of short positions by speculators in view of Thursday’s monthly expiry in the derivatives segment, influenced the trading sentiment.
In addition, a firming trend at other Asian markets following overnight gains in the US, accelerated buying activity on the domestic bourses here, they said.
Among other Asian markets, Japan’s Nikkei rose 1.38%, while Hong Kong’s Hang Seng was trading 0.87% higher in early trade. The US Dow Jones Industrial Average ended 1.12% down on Tuesday’s trade.