Sensex recovers 121 points as December F&O series takes off

Mumbai: The benchmark BSE Sensex recovered by nearly 121 points and the Nifty reclaimed 8,000-mark in early trade today on fresh buying by investors as the December derivative contracts started on a better note amid mixed Asian cues. However, investors have been cautious for the past few sessions as the rupee plunged to a record low of 68.86 (intra-day) against the dollar yesterday as the demonetisation after-effects played out and concerns grew about a possible Fed rate hike in the near term.

The 30-share Sensex, which lost 191.64 points in the previous session, recouped 120.64 points, or 0.46 per cent, at 25,980.81 with sectoral indices of BSE led by metal, realty, IT, PSU and consumer durables were in the positive zone, rising by up to 1.42 per cent. The NSE Nifty went up by 42.75 points, or 0.53 per cent, to 8,008.25.

Brokers said build-up of bets following the beginning of the December futures and options (F&O) series amid mixed trend at other Asian markets influenced trading sentiment. In Asia, Hong Kong’s Hang Seng was up 0.44 per cent, Japan’s Nikkei 0.77 per cent, while Shanghai Composite Index shed 0.33 per cent cent in early trade. The US markets remained closed yesterday for ‘Thanksgiving Day’.