Sensex near 34,000 in early trade, up 107 points; PNB bounces back after recent slump

Mumbai: The benchmark BSE Sensex rose over 107 points to 33,926.59 in early session today as the March derivatives series kicked off on a strong note amid positive Asian cues. The 30-share Sensex, which had lost 25.36 points in the previous session, was trading higher by 107.09 points, or 0.31 percent, at 33,926.59. All BSE sectoral indices were in the green, led by healthcare, bank, metal and realty stocks, rising by up to 1.33 percent. The NSE Nifty50 recovered 39.85 points, or 0.38 percent, to 10,422.55. On Thursday, the equity indices closed with marginal losses on the back of volatility infused by futures and options (F&O) expiry along with negative global cues and a weak rupee. Brokers said investors were creating fresh positions at the start of March futures and options (F&O) series, that led to a recovery in the market. Major gainers include Sun Pharma, Tata Steel, Bharti Airtel, Dr Reddy’s, Yes Bank, Tata Motors, SBI, Wipro and NTPC, rising up to 3.09 percent. Stocks of Punjab National Bank which had been under selling pressure since the massive fraud detection, however, edged 1.05 percent higher. [caption id=“attachment_4339175” align=“alignleft” width=“380”]  Reuters image.[/caption] Shares of Gitanjali Gems slumped for yet another session and slumped nearly 5 percent to Rs 24.80. A firm trend in Asian markets on positive cues from Wall Street pushed buying activity in bourses here, they added. Hong Kong’s Hang Seng gained 0.67 percent, while Japan’s Nikkei rose 0.36 percent in early trade. China’s Shanghai Composite Index too edged higher by 0.14 percent. The Dow Jones Industrial Average jumped 164.7 points, or 0.66 percent, to close at 24,962.48 yesterday. The S&P500 gained 2.63 points, or 0.10 percent, to 2,703.96. (With inputs from agencies)