Sensex recovers 108 points in early trade on value-buying

Mumbai: The benchmark BSE Sensex recovered over 108 points in early trade on Monday on buying at prevailing lower levels by investors amidst a firming trend at other Asian markets. 

The 30-share index, which had lost 475.30 points in previous three sessions, rose by 108.64 points, or 0.38 %, to 28,369.72 with all sectoral indices, led by power, healthcare, oil & gas and capital goods, trading in positive zone with gains up to 0.68 %. 

On similar lines, the National Stock Exchange index Nifty regained the 8,600-mark by gaining 37.45 points, or 0.43 %, to 8,608.35 in early trade. 

Brokers said emergence of buying by investors after remaining sellers in the past few sessions and a firm trend at other Asian markets, tracking week-end rallies in the US and European markets, influenced the sentiments here. 

Bucking the trend, stocks of Jindal Steel and Power plunged nearly 15 % to Rs 140.25 after the government cancelled the company’s bids for three coal blocks amid speculations of cartelisation. 

Amongst other Asian markets, Japan’s Nikkei rose 1.07 % while Hong Kong Hang Seng gained 0.37 % in early trade on Monday. 

The US Dow Jones Industrial Average ended 0.94 % higher in Friday’s trade.