Sensex rebounds 123 points in opening trade on Asian cues

Sensex, Nifty hit new record high on fund inflows. Photograph:( PTI )

PTI Mumbai, Maharashtra, India Jan 04, 2018, 04.24 AM (IST)

The benchmark BSE Sensex recovered by over 123 points in early trade today, halting its three-session falling streak on fresh spell of buying in recent losers amid positive Asian cues.

The 30-share index rebounded by 123.37 points, or 0.36 per cent, to 33,916.75. The gauge had lost 263.45 points in the previous three sessions.

Sectoral indices led by infrastructure, capital goods, PSU, realty and metal were leading the recovery, adding up to 0.70 per cent.

The NSE Nifty also moved up by 26.90 points, or 0.25 per cent, to trade at 10,470.10.

Brokers said continued foreign fund inflows and gains at most of Asian markets influenced trading sentiments here.

Foreign institutional investors bought equities worth Rs 96.31 crore yesterday, while Domestic Institutional Investors (DIIs) sold shares worth Rs 269.20 crore, as per the provisional data.

In the Sensex kitty, major gainers included Asian Paint, ONGC, IndusInd Bank, Dr Reddy's, TCS, Maruti Suzuki, L&T, Axis Bank, SBI, ITC Ltd, HDFC Bank, M&M, NTPC and Reliance Industries, gaining up to 1.38 per cent.

In Asia, Hong Kong's Hang Seng rose 0.47 per cent while Shanghai Composite index up 0.41 per cent in early trade today. Japan's Nikkei began the first trading day of 2018 on a strong note by rising 2.46 per cent, trying to catch up with recent rallies on Wall Street.

The US Dow Jones Industrial Average ended 0.40 per cent higher yesterday.