Sensex rebounds 54 points as November series begin on positive note

Mumbai: Recovering from a four-day losing run, the benchmark BSE Sensex rebounded by 54 points to 26,892.45 in early trade on October 30 on fresh buying by investors as the November derivatives series began on a positive note.

However, caution prevailed ahead of the announcement of earnings numbers by some blue-chip companies including ICICI Bank and L&T. The 30-share Sensex, which has lost 632.67 points in the previous four sessions, recovered by 54.31 points or 0.20 per cent to 26,892.45 points. Realty, healthcare, banking and power sectoral indices of BSE were in the positive zone.

Also, the NSE Nifty was quoting 13.30 points or 0.16 per cent higher at 8,125.05. Brokers said building-up of positions by participants, following beginning of the November month F&O series helped Sensex recover, but a weak trend at other Asian markets on overnight losses on the US markets capped the gains.

Among other Asian markets, Japan's Nikkei shed 0.77 per cent, Shanghai Composite index fell 0.19 per cent while Hong Kong's Hang Seng was down 0.57 per cent in early trade. The US Dow Jones Industrial Average ended 0.13 per cent lower in 29 October’s trade.