Sensex makes a positive beginning, recoups 88 points

Market benchmark Sensex started the day on a positive note after it recovered over 88 points and the NSE Nifty regained the 8,700-mark today on fresh buying amid higher Asian cues.

The 30-share index was trading higher by 88.13 points, or 0.31 per cent, at 28,165.31, with banking, oil and gas, power, capital goods and auto stocks seeing some investor interest, with gains up to 0.71 per cent.

The gauge had lost 52.66 points in the previous session on Friday due to heightened prospects of a US rate hike.

Also, the NSE Nifty rose 23.75 points, or 0.27 per cent, to 8,716.80.

Brokers said fresh buying by investors as well as funds in select blue—chips amid an uptrend in Asia gave sentiment a lift.

Hong Kong’s Hang Seng was up 0.42 per cent while Japan’s Nikkei gained 0.02 per cent in early trade today. The Shanghai Composite Index was quoting 0.42 per cent higher.

The US Dow Jones Industrial Average, however, ended marginally lower by 0.09 per cent in Friday.