Sensex recovers 100 points on value buying

New Delhi,July 28: The benchmark BSE Sensex rebounded over 100 points in early trade today, after three sessions of losses, on value-buying by investors in select blue-chips amid a mixed trend at other Asian markets.

Besides, covering-up of pending short positions by speculators ahead of the July month's expiry in the derivatives segment on Thursday supported the recovery.

The 30-share index was trading higher by 100.08 points, or 0.36 per cent, at 27,661.46, with teck, IT, consumer durables, capital goods, healthcare and banking sectors leading the recovery.

The gauge had lost 943.55 points in the previous three sessions on muted earnings by some bluechip companies amid fears over stricter norms on participatory notes and a Chinese stock rout.

On similar lines, the NSE Nifty was up 30.75 points, or 0.36 per cent, at 8,391.75 in early trade.

Brokers said value-buying in recently beaten down select blue-chip stocks coupled with covering-up of short positions by speculators influenced trading sentiments.

Among Asian markets, Hong Kong's Hang Seng gained 1.86 per cent while Japan's Nikkei fell 0.94 per cent in early trade today.

The US Dow Jones Industrial Average fell 0.73 per cent in yesterday's trade.

Government completely removes customs duty on sugar export

New Delhi: The central government has completely removed the duty on export of "raw sugar, white or refined sugar".'In order to promote exports with t...

Prasad warns FB of strong action if it sways electoral process

New Delhi: India on Wednesday warned social media platforms like Facebook of 'strong action' if any attempt was made by them to influence the country'...

PNB Rs 13,000 crore fraud: Mehul Choksi writes to CBI again

New Delhi: Responding to the fresh set of summons sent by Central Bureau of Investigation (CBI), absconding jeweller Mehul Choksi again wrote a letter...

How RBI is disposing of demonetised currency worth Rs 15.28 trillion

New Delhi: Demonetised Rs 500 and Rs 1,000 notes, which have been counted and processed for genuineness, are shredded and briquetted before being disp...