Mumbai, India (BBN) – The Sensex and Nifty were trading higher by nearly 0.5 per cent largely on the back of value buying in blue-chip stocks such as Cipla, Lupin and Tata Steel amid mixed Asian cues.
Brokers said value-based buying at some blue-chip counters, which are heavily over-sold and covering-up of pending short positions by speculators ahead of the December futures and options expiry on Thursday supported the recovery, reports The Hindu Business Line.
At 11.05 am, the 30-share BSE index Sensex was up 112.60 points or 0.44 per cent at 25,921.34 and the 50-share NSE index Nifty was up 35.1 points or 0.44 per cent at 7,943.35.
Among BSE sectoral indices, consumer durables index gained the most by 1.38 per cent, healthcare 1.16 per cent, IT 1.06 per cent and oil & gas 1.04 per cent, while realty index was down 0.77 per cent.
Top five Sensex gainers were Cipla (+1.79%), Lupin (+1.71%), M&M (+1.4%), TCS (+1.35%) and Adani Ports (+1.33%), while the only four losers were Bharti Airtel (-0.71%), HDFC (-0.48%), Hero MotoCorp (-0.45%) and GAIL (-0.01%).
Elsewhere in Asia, Japan’s Nikkei was up 0.28 per cent in early trade today supported by buying in select shares, as global investors gradually returned to the market after the holiday break, while the benchmark Shanghai Composite Index shed 0.13 per cent.
Financial markets in Hong Kong are closed for a public holiday.