The benchmark Sensex rebounded by 51 points in opening trade today after IT, realty and teck stocks rose on optimistic buying by investors ahead of announcement of quarterly results.
The 30-share index rose by 51.78 points, or 0.15 per cent, at 34,484.85, in opening trade with IT, realty, teck, power and auto leading the recovery by rising up to 0.80 per cent. The gauge had shed 10.12 points in the previous session following profit-booking at record levels. Also, the NSE Nifty traded higher by 9.05 points, or 0.08 per cent, at 10,641.25 in the opening trade. Traders said widening of bets by investors ahead of Q3 numbers from IndusInd Bank and TCS, to be released later in the day amid buying by domestic institutional investors (DIIs) influenced sentiment.
DIIs bought shares to the tune of Rs 600.24 crore, while Foreign institutiional investors (FIIs) sold shares worth Rs 572.26 crore yesterday, as per the provisional data. Support came from key stocks such as Infosys, ONGC, Tata Motors, Kotak Bank, ITC Ltd, Dr Reddy's, Maruti Suzuki, HDFC Ltd, Adani Ports, Power Grid, Hindustan Unilever and M&M, rising by up to 1.04 per cent.
On the other hand, trend at other Asan markets was weak in line with overnight losses at the Wall Street. Japan's Nikkei falling 0.52 per cent while Hong's Hang Seng shed 0.24 per cent in their early trade. China's Shanghai Composite index too was down 0.30 per cent Wall Street fell for the first time in 2018 with the Dow Jones Industrial Average dropping 0.07 per cent yesterday.
The rupee weakened 14 paise to trade at 63.74 against the US dollar in morning session today at the Interbank Foreign Exchange on increased demand for the American currency from banks and importers.