Sensex snaps losing string, recovers 107 pts

Snapping the last 10-day losing string, the BSE benchmark Sensex recovered by 107 points in late morning trade today on fresh buying in realty, PSU, refinery, power, consumer durable and banking sectors amid higher Asian cues.

Volatility may remain high on the bourses this week as traders roll over positions in the futures & options (F&O) segment from the near month March 2013 series to April 2013 series. The March 2013 F&O contracts will expire on Thursday.

The BSE-30 share index, Sensex, resumed higher at 18,894.13 and hovered in a range of 18,950.22 and 18,841.24, before quoting at 18,842.41 points at 1035hrs.

It showed a rise of 106.81 points or 0.57 per cent from its last weekend's level.

The NSE 50-share index Nifty also moved up by 35.50 points or 0.63 per cent quoting 5,686.85 at 1035 hrs.

Major gainers were ONGC (4.19 pc), NTPC (2.40 pc), HDFC (2.30 pc), Jindal Steel (2.02 pc), Maruti Suzuki ((1.40 pc), SBI (1.25 pc) and Hindalco Ind (1.23 pc).

Asian stocks rose in the early trade after an agreement by Cyprus to an international bailout reduced the threat of its default.

Key benchmark indices in Hong Kong, Indonesia, Japan, Singapore, Taiwan and South Korea rose by 0.5 to 1.45 per cent while China's Shanghai Composite fell 0.16 per cent.

Indian stocks to watch-March 25


Nifty futures on the Singapore Exchange rose 0.72 percent, while the MSCI-Asia Pacific index excluding Japan is up 0.95 percent.

The euro and Asian shares rose on Monday after Cyprus did a last-ditch deal with international lenders for a 10 billion euro ($13 billion) bailout hours before a deadline to avert a financial collapse on the Mediterranean island.

U.S. stocks rose on Friday on optimism that a deal to bail out Cyprus would be reached, but ended lower for the week for just the second time this year. FINANCIAL/REGULATORY

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