Sensex bounces back, up 151 points in opening trade

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Sensex bounces back, up 151 points in opening trade
Mumbai, Nov 22 (PTI) The BSE benchmark Sensex rebounded by over 151 points in opening trade today, snapping its eight-session long losing streak on the emergence of buying at prevailing levels amid covering up of short positions by speculators.

The 30-share BSE index, which has lost nearly 1,625 points in the past eight sessions, recovered by 151.20 points, or 0.94 per cent, to 16,097.30 in opening trade, with realty, metals, capital goods and auto stocks leading the recovery.

In a similar fashion, the wide-based National Stock Exchange Nifty index shot up by 45.45 points, or 0.95 per cent, to 4,823.80

Brokers said today's recovery was mostly due to covering up of short positions ahead of monthly expiry in the derivatives segment later this week and bargain buying in select blue-chip stocks by participants.

They said, however, a weakening trend on other Asian bourses, in line with overnight losses in the US market, capped the gains in the domestic market here.

PTI

Read more about: bse, nse, derivatives
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