Sensex gains 103 points, driven by value-buying

Mumbai: The benchmark BSE Sensex recovered over 103 points in early trade on August11 on value-buying by investors after two sessions of losses amid a mixed trend at other Asian markets. Expectations of better earnings from some blue-chips, including SBI and Sun Pharma, to be announced later in the day influenced trading sentiment.

The 30-share index rose 103.40 points, or 0.36 per cent, to 28,205.12, with IT, realty, consumer durables, healthcare, PSU and banking stocks driving the recovery. The gauge had lost 196.41 points in the previous two sessions. Also, the NSE Nifty ruled firm, up 30.65 points, or 0.35 per cent, at 8,556.25 in early trade.

Brokers said investors sought bargains in recently beaten-down blue-chip stocks amid hopes of passage of the key GST bill in Parliament, which lifted mood. The government has listed the Bill on GST for discussion in the Rajya Sabha on August 11. Asian bourses stayed mixed tracking overnight gains in US markets.

Hong Kong's Hang Seng rose 0.64 per cent while Japan's Nikkei shed 0.23 per cent in early trade on August 11. The US Dow Jones Industrial Average ended 1.39 per cent higher on August 10 trade.