Mumbai: Benchmark BSE Sensex rebounded over 57 points in early trade today on sustained buying by domestic institutional investors amid mixed trend in other Asian bourses. Short-covering of bets today being the last session of April expiry in the derivatives segment supported the recovery.
Asian markets were mixed as robust corporate earnings helped Wall Street calm concerns over the surge in US bond yields. The 30-share Sensex recovered 57.35 points, or 0.16 per cent, to trade 34,558.62 in opening session. It had lost 115.37 points in the previous session. Realty, metal, healthcare, infrastructure, auto,FMCG and power sectors led the recovery.
The NSE Nifty was also trading higher by 32.70 points, or 0.30 per cent, at 10,586.90. Brokers said sustained buying by domestic institutional investors and a mixed trend at other Asian bourses, tracking overnight gains at Wall Street, mainly influenced sentiment here. Major gainers were M&M, TCS, Tata Steel, Sun Pharma, Yes Bank, RIL, HUL, Infosys, HDFC Bank, SBI, Asian Paints, Maruti Suzuki, IndusInd Bank, Bajaj Auto, Power Grids and Dr Reddy’s, with gains of up to 0.98 per cent.
However, Wipro, tumbled 3.62 per cent to Rs 276.80 after the company yesterday reported over 20 per cent decline in its consolidated profit to Rs 1,800.8 crore for the March quarter, 2017-18. The country’s third-largest software services firm had registered a profit of Rs 2,267 crore in the year-ago period, as per Indian accounting norms.
Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 435.98 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 304.79 crore yesterday, provisional data showed. In the Asian region, Japan’s Nikkei was up 0.59 per cent but Hong Kong’s Hang Seng shed 0.77 per cent and China’s Shanghai Composite index too was down 0.98 per cent in their early deals. The Dow Jones Industrial Average ended 0.25 per cent higher in yesterday’s trade.
