Sensex trades 70 points higher on value-buying in early trade

The 30-share BSE Sensex was trading higher by 81.22 points or 0.23% to 35,367.96 in early trade on Wednesday. The wider NSE Nifty too was trading 18.70 points or 0.17% higher at 10,729.15.

The BSE Sensex rebounded over 70 points in opening trade on Wednesday, reversing its two-session losing streak on value-buying in select blue-chips amid a strengthening rupee.

Overseas, mixed trend at other Asian markets also influenced trading sentiments.

The rupee recovered from its nearly one-month low by strengthening 32 paise to 68.06 against the US dollar in early trade on Wednesday.

The 30-share BSE Sensex was trading higher by 81.22 points or 0.23% to 35,367.96 in early trade on Wednesday.

The gauge had lost 335.40 points in the previous two sessions, tracking a sell-off across global markets after the US and China reignited their trade dispute.

The wider NSE Nifty too was trading 18.70 points or 0.17% higher at 10,729.15.

All sectoral indices, led by healthcare, realty and auto, were in the positive zone, rising up to 0.93%.

Major gainers were Vedanta, Axis Bank, M&M, Bharti Airtel, Bajaj Auto, Tata Steel, Infosys, IndusInd Bank, Yes Bank, Sun Pharma, HDFC Ltd and RIL, rising up to 1.32%.

Domestic institutional investors (DIIs) bought shares worth a net Rs 653.686 crore while foreign portfolio investors (FPIs) sold equities to the tune of Rs 1,324.92 crore on Tuesday, as per provisional data.

Among other Asian bourses, Japan’s Nikkei was up by 0.16%, Hong Kong’s Hang Seng inched up 0.03%, while Shanghai Composite Index fell 0.19% in early trade.

The US Dow Jones Industrial Average ended 1.15% lower on Wednesday.