Sensex rallies about 148 points in early session today

The Sensex rallied about 148 points to 27,856 in the early session on Friday, maintaining its positive form for the fourth day as the February derivatives series took off on a strong footing amid positive Asian cues.

The 30-share Sensex, which gained 673.64 points in the previous three straight sessions, added 147.57 points, or 0.53 percent, at 27,855.71.

All sectoral indices of BSE led by oil and gas, power and PSU were in the positive zone, rising by up to 1.34 percent. The NSE Nifty jumped 40.75 points, or 0.47 percent, to 8,643.50. The market was shut yesterday for the Republic Day.

Brokers said investors were busy creating new positions following the beginning of the February futures and options (F&O) series that led to the rally in the market.

Moreover, data showing that foreign as well as domestic institutional investors made sizeable buying on Wednesday buoyed sentiment.

A firming trend in the rest of Asia led by Japan, tracking another record close in the US, accelerated buying activity at the domestic bourses here, they added.

Japan’s Nikkei quoted 0.37 per cent higher while Hong Kong’s Hang Seng gained 0.01 per cent in the early part.  China’s Shanghai market is closed today for a public holiday. The US market ended 0.16 per cent higher yesterday.