Mumbai: The benchmark BSE Sensex rallied over 291 points at 27,302.63 in early trade today after a long weekend on fresh buying by participants as the May series in derivatives segment began amid positive Asian cues.
The 30-share index, which had lost 385.07 points in the previous two sessions, rose by 291.32 points, or 1.08 per cent, at 27,302.63. All the sectoral indices led by realty, metal, healthcare, auto and oil & gas were trading in positive terrain with gains up to 1.97 per cent. On similar lines, the National Stock Exchange index Nifty regained the 8,200-mark by gaining 82.30 points, or 1.01 per cent, at 8,263.80. Brokers said fresh positions built up by participants, following beginning of May series in the derivatives segment and value-based buying in select counters helped trading sentiments to improve.
Besides, a firming trend at other Asian markets triggered buying on domestic bourses, they added. Stocks of auto companies led by Maruti Suzuki, were in some demand largely on the back of encouraging sales growth in April. Shares of Maruti Suzuki rose 2.34 per cent to Rs 3,819.35 after its domestic sales increased by 27.3 per cent during the month to 1,00,709 units against 79,119 units in April 2014. Shares of state-run oil companies such as HPCL, BPCL and IOC were also trading in positive zone largely supported by a hike in petrol and diesel prices. Among other Asian markets, Hong Kong’s Hang Seng gained 0.14 per cent in opening trade today, while Japan’s financial markets are closed for a public holiday. The US Dow Jones Industrial Average ended 1.03 per cent higher in Friday’s trade.