Sensex jumps 140 points on value buying, global cues

The benchmark BSE Sensex recouped about 140 points in early trade on Friday on value-buying by participants, tracking overnight strong rally in the U.S. equities.

The 30-hare barometer rose 139.67 points, or 0.56 per cent, to 24,912.64, with IT, TecK, realty, metal healthcare and power sector stocks leading the gains. The gauge had lost 81.14 points in Thursday’s volatile trade.

On similar lines, the benchmark NSE index Nifty traded higher by 29.70 points, or 0.39 per cent, at 7,566.50.

Brokers said value-buying in blue-chip stocks by participants after recent losses and an overnight rally in U.S. stocks following strong corporate earnings and a rebound in oil prices boosted market sentiment here. Moreover, a mixed trend at other Asian bourses influenced sentiments, they said.

The U.S. Dow Jones Industrial Average ended 1.41 per cent higher in Thursday’s trade. Among Asian markets, Hong Kong’s Hang Seng index was down by 0.61 per cent while Japan’s Nikkei gained 0.73 per cent in early trade. Shanghai Composite Index was down 1.38 per cent.

[Source:- The Hindu]