Sensex rebounds over 120 points in the opening trade

Brokers said value-buying in recently beaten-down blue-chips along with covering-up of short positions by speculators influenced trading sentiments.

Furthermore, a moderate recovery at other Asian markets supported the rebound on the domestic market here.

Among other Asian markets, Japan’s Nikkei, extended a 10-month high by rising 0.49 per cent, while Shanghai Composite index was up 0.91 per cent in their early trade.

Hong Kong’s Hang Seng index was also trading 0.42 per cent higher.

The US Dow Jones Industrial Average, however, fell 0.19 per cent in Friday’s trade.

(Sourced from agencies, feature image courtesy:businesstrajectory.com)