Sensex recovers 57 points ahead of F&O expiry

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MUMBAI, APR 26,
Benchmark BSE Sensex rebounded over 57 points in early trade on Thursday on sustained buying by domestic institutional investors amid mixed trend in other Asian bourses.
Short-covering of bets on Thursday being the last session of April expiry in the derivatives segment supported the recovery.
Asian markets were mixed as robust corporate earnings helped Wall Street calm concerns over the surge in U.S. bond yields.
The 30-share Sensex recovered 57.35 points, or 0.16%, to trade 34,558.62 in opening session. It had lost 115.37 points in the previous session.
Realty, metal, healthcare, infrastructure, auto, FMCG and power sectors led the recovery.
The NSE Nifty was also trading higher by 32.70 points, or 0.30%, at 10,586.90.
Brokers said sustained buying by domestic institutional investors and a mixed trend at other Asian bourses, tracking overnight gains at Wall Street, mainly influenced sentiment here.
Major gainers were M&M, TCS, Tata Steel, Sun Pharma, Yes Bank, RIL, HUL, Infosys, HDFC Bank, SBI, Asian Paints, Maruti Suzuki, IndusInd Bank, Bajaj Auto, Power Grids and Dr Reddy’s, with gains of up to 0.98%.
However, Wipro tumbled 3.62% to ?276.80 after the company on April 25 reported over 20% decline in its consolidated profit to ?1,800.8 crore for the March quarter, 2017-18.
The country’s third-largest software services firm had registered a profit of ?2,267 crore in the year-ago period, as per Indian accounting norms.
Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth ?435.98 crore, while foreign portfolio investors (FPIs) sold shares worth ?304.79 crore on April 25, provisional data showed.
In the Asian region, Japan’s Nikkei was up 0.59% but Hong Kong’s Hang Seng shed 0.77% and China’s Shanghai Composite index too was down 0.98% in their early deals.
The Dow Jones Industrial Average ended 0.25% higher in Wednesday’s trade.

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