Sensex cuts early losses to regain 25,000, rises 48 pts

Monday, Dec 14, 2015,10:11 IST By metrovaartha A A A

Mumbai | Reversing early losses, the BSE Sensex regained the 25,000-level and the Nifty recaptured the 7,600-mark in late Monday morning deals on value-buying in key blue-chips, metals, basic industries, healthcare, power, FMCG, energy and banking counters despite muted Asian cues.

Earlier, the benchmark opened gap-down and slipped below the 25,000-mark by plunging 177 points and Nifty cracked the 7,600-level on sustained sell-off. Later, bouts of value-buying amid tinge of short-covering helped the indices to recovery, a trader said. However, industrials, auto and oil&gas segment witnessed selling activity. The index resumed lower at 24,935.60 and slid to a low of 24,867.73. It was quoting 25,092.67 at 1120 hrs, showing a gain of 48.24 points over its previous close.

The NSE Nifty was trading up by 19.25 points or 0.25 per cent to 7,629.70. Major BSE gainers were HUL (1.94 pc), Tata Steel (1.66 pc), BHEL (1.48 pc), Sun Pharma (1.19 pc) and Coal India (0.78 pc). Notable losers were Tata Motors (1.93 pc), ONGC (1.55 pc), TCS (0.98 pc), M&M (0.87 pc) and Wipro (0.74 pc).

Meanwhile, foreign investors bought shares worth Rs 253.73 crore last Friday, as per provisional data. Overseas, Asian equities trading lower as investors remained focused on a decision from the US Federal Reserve after a monetary policy review this week.