The benchmark Sensex recovered from its initial losses to trade higher by 68 points in late morning trade on renewed buying in auto, consumer durable, FMCG and healthcare sectors.
The benchmark BSE index resumed better at 29,924.06 but declined immediately to low of 28,748.29 before recovering to quote at 28,912.44 at 1100 hours, showing a rise of 67.66 points, or 0.23 per cent, from its previous close.
The CNX 50-share Nifty, also recouped slightly by 3.75 points, or 0.04 per cent, to 8,760.50 at 11 a.m. Major gainers were Coal India (2.56 per cent), Bharti Airtel (2.39 per cent), M&M (2.35 per cent), BHEL (1.96 per cent), Bajaj Auto (1.79 per cent), Cipla (1.70 per cent) Larsen (1.42 per cent), Tata Motors (1.20 per cent) and ICICI Bank by (1.13 per cent).
While major losers were HDFC by 1.90 per cent, Wipro 1.48 per cent, GAIL 1.46 per cent, HUL 1.24 per cent, ONGC 1.15 per cent and TCS 1.14 per cent.
Foreign portfolio investors (FPIs) bought shares worth a net Rs. 838.30 crore on Monday as per provisional data, while Domestic Institutional Investors (DIIs) sold shares worth a net Rs. 35.31 crore.
Asian stocks were trading mixed early, after data showed an acceleration in China’s consumer inflation last February. Key indices in China, Hong Kong, and Taiwan were down 0.11 per cent to 0.54 per cent. Indices in Indonesia, Japan and Singapore rose 0.22 per cent to 0.26 per cent.
In overseas, U.S. stocks closed higher on Monday, recovering from last Friday’s sharp decline as investors took a more positive outlook on the strong jobs report.
