Thursday, August 26, 2010

Sensex rebounds, up 69 points in opening trade



The Bombay Stock Exchange benchmark Sensex on Thursday opened higher by almost 69 points, after witnessing two sessions of losses, on emergence of fund buying in oil and gas, realty and metal stocks, coupled with firming trend overseas.
Covering-up of short positions by speculators on the last session of monthly expiry in the derivatives segment also supported the upside in stock prices. The 30-share index rose by 68.58 points, or 0.37 per cent, to 18,248.22 points in the first five minutes of trading. The Sensex had lost almost 230 points in the past two sessions.

Similarly, the broad-based National Stock Exchange index Nifty gained 19.80 points, or 0.36 per cent, to trade at 5,482.15 points. Brokers said fresh buying by funds and retail investors in select stocks following firming trend in the Asian region after overnight gains in the US markets boosted the trading sentiment here. The Japanese Nikkei gained 0.31 per cent in the morning trade today, while the US Dow Jones Industrial average ended 0.20 per cent higher yesterday.

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