Sensex bounces 115 points on buying in bluechip stocks

Market benchmark Sensex recovered over 115 points in the early session on Monday on a fresh spell of buying in select bluechip stocks amid mixed Asian cues.

However, caution prevailed in view of the holiday-shortened week as market will remain shut on Thursday on account of Baba Saheb Ambedkar Jayanti and on Friday for Ram Navami.

The 30-share index was trading 115.56 points or 0.47% higher at 24,789.40 with infrastructure, realty, consumer durables, healthcare, auto and banking staying in the positive zone.
The gauge had fallen 226.79 points in the previous two sessions.

The NSE Nifty-50 index was trading higher by 22.60 points or 0.30% to 7,577.80.

Stock brokers said widening of bets in select bluechips by cautious investors ahead of key economic data — industrial production (IIP) for February and consumer price index (CPI) data for March — to be released later this month and a mixed trend in other Asian markets influenced the mood.

Hong Kong’s Hang Seng climbed 0.53% while Japan’s Nikkei shed 1.27% in early trade on Monday.

China’s main Shanghai Composite gained 1.82%. The US Dow Jones Industrial Average ended 0.20% higher in Friday’s trade.