Sensex up 90 pts in early trade
The 30-share index was up by 90.87 points at 13,723.40 in the first five minutes of trading on blue-chip stocks.business Updated: Sep 10, 2012 12:08 IST
After remaining in negative zone for four straight sessions, the Bombay Stock Exchange benchmark, Sensex, recovered by over 90 points in early trade on Monday, on the back of selective buying in blue-chip stocks.
The 30-share index, which had lost more than 770 points in the past four sessions, was up by 90.87 points at 13,723.40 in the first five minutes of trading.
Similarly, the National Stock Exchange Nifty rose by 19.35 points at 3,958.30.
Market observers said expectation of a cut in freight rates likely to be proposed in the Railway budget and reports of firming Asian markets triggered fresh buying activity.
The major support to Sensex came in from stocks like Maruti Udyog, MTNL, Reliance Energy, Reliance Capital, State Bank of India, Tata Steel and Satyam Computers.
Meanwhile, stocks of Transwarranty and C and C Constructions were listed on the bourses.
Transwarranty Finance opened higher at Rs 63 against the offered price of Rs 52, while C and C Construction after commencing higher at Rs 350 dipped to Rs 244.05 against offered price of Rs 291.