Mumbai, India (BBN) – After a four-day fall, the benchmark Sensex recovered on fresh buying by investors in blue-chip stocks despite a weak trend in Asia.
At about 10:00am, the 30-share index, which had lost 323.12 points in the previous four sessions, was up 36.82 points or 0.14 per cent at 26,411.52, reports The Hindu Business Line.
All the sectoral indices, led by realty, IT and consumer durables, were trading positive, giving the sentiment a lift.
The NSE index Nifty was also trading higher by 10.05 points or 0.12 per cent at 8,114.40.
The Nifty and the Sensex opened flat to positive following weak Asian cues after the Bank of Japan decided to stay put on a rate cut.
The Nifty opened seven points up at 8111 while the Sensex opened at its previous closing level of 26375.
Brokers said mood turned buoyant, bolstered by a flurry of buying.
They said, however, a weak trend in Asian shares ahead of Bank of Japan’s last policy meeting for this year restricted the rise.
A report by IFA Global said “Asian stock markets are trading on a negative note, with Hang Seng index trading lower by 50 points and Nikkei index is trading lower by 5 points after Bank of Japan kept rates unchanged.US stock markets closed on a positive note, the Dow Jones Industrial Average closed higher by 39 points and Nasdaq index closed higher by 20 points. U.S. equities closed higher despite services PMI index dropping to 53.4 in December compared to 54.6 in the previous month.European stock markets closed on a mixed note, with FTSE closed marginally higher by 5 points and CAC lower by points. European markets ended the day on a mixed note after German business climate index in December rose to 111 marginally higher compared to 110.4 in the previous month.”
Volatility was down 3.55 per cent with the India Vix quoting at 14.3100.