Sensex up by 49 points to bounce over 26,000 in early trade
Rising for the third straight session, the BSE Sensex rose 48.88 points, or 0.18%, to 26,128.36.business Updated: Dec 30, 2015 11:55 IST
The benchmark BSE Sensex rose about 49 points in early trade on Wednesday on increased buying by funds and retail investors amid mixed overseas cues.
Moreover, covering-up of pending short positions by speculators in view of Wednesday’s December monthly expiry in the derivatives segment contributed to the upmove.
Rising for the third straight session, the BSE 30-share barometer rose 48.88 points, or 0.18%, to 26,128.36.
The gauge had rallied 240.77 points in the past two sessions.
All sectoral indices, led by metal, infrastructure and power, were in the green, rising up to 0.59%.
Also, the NSE Nifty edged higher by 9.30 points, or 0.12%, to 7,938.25.
Brokers said continued buying by investors in some blue-chip stocks had a positive impact too.
However, they said, lack of participation with most foreign players on year-end holidays limited the gains.
Bucking the trend, United Spirits fell 1.80% to Rs 2,928.75 and United Breweries 0.53% to Rs 935.60 after the Supreme Court yesterday upheld the Kerala government’s policy restricting issuance of bar licences to five-star hotels only.
In other Asian markets, Japan’s Nikkei was up 0.33% while Hong Kong’s Hang Seng fell 0.50% in early trade on Wednesday.
The US Dow Jones Industrial Average ended 1.10% higher on Tuesday.