MUMBAI: The Bombay Stock Exchange benchmark Sensex gained over 134 points in the opening trade on Wednesday due to buying of funds on firm global markets amid covering up of short positions by speculators ahead of Thursday's expiry in the derivatives segment.
The 30-share barometer gained 134.02 points to 8,956.08 with the banking, realty and metal sector stocks leading the recovery. The index had lost nearly 220 points in the previous two sessions.
The broad-based National Stock Exchange Nifty also moved up by 35.80 points to 2,769.70.
Stock brokers said apart from short-covering by speculators in view of Thursday's monthly expiry in the derivatives segment, fresh buying by funds driven by overnight rally on the US markets and firming trend in other regional bourses, helped sentiments improve to some extent.
They said the market also got a boost after the government announced that the 4 per cent across-the-board excise duty cut would continue beyond March 31, 2009, and also reduced excise duty rates by two per cent to bring it down to 8 per cent.
Soruce:http://timesofindia.indiatimes.com/Business/Sensex-gains-134-pts-in-early-trade/articleshow/4187110.cms
The 30-share barometer gained 134.02 points to 8,956.08 with the banking, realty and metal sector stocks leading the recovery. The index had lost nearly 220 points in the previous two sessions.
The broad-based National Stock Exchange Nifty also moved up by 35.80 points to 2,769.70.
Stock brokers said apart from short-covering by speculators in view of Thursday's monthly expiry in the derivatives segment, fresh buying by funds driven by overnight rally on the US markets and firming trend in other regional bourses, helped sentiments improve to some extent.
They said the market also got a boost after the government announced that the 4 per cent across-the-board excise duty cut would continue beyond March 31, 2009, and also reduced excise duty rates by two per cent to bring it down to 8 per cent.
Soruce:http://timesofindia.indiatimes.com/Business/Sensex-gains-134-pts-in-early-trade/articleshow/4187110.cms
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