Sensex rebound by 45 points in late morning trade

Mumbai: Benchmark Sensex rebounded 45 points in late morning trade on bouts of buying in telecom, consumer durables, metal, oil and gas, power, realty and healthcare sectors amid mixed Asian cues.

Investors opted for bargain-hunting as well as short- covering ahead of derivatives expiry this week. The 30-share barometer opened higher at 28,481.91 and hovered between 28,521.16 and 28,419.27.

It was trading at 28,513.80 at 1100 hrs, up 45.05 points, or 0.16 per cent. The NSE 50-share Nifty was also trading higher by 12.85 points, or 0.15 per cent, at 8,834.55. Major gainers were Bharti Airtel (2.23 per cent), Tata Steel (1.83 per cent), GAIL (1.74 per cent), TCS (1.53 per cent) and Sun Pharma (1.15 per cent).

Foreign portfolio investors (FPIs) net sold shares worth a whopping Rs 8,043.14 crore on Friday, provisional data showed.

Overseas, most Asian markets were trading with small gains as investors awaited fresh cues. In the US, all three major stock indexes closed at record highs on Friday over optimism surrounding President Donald Trump's proposed economic policies.