Sensex bounces 99 points, Nifty above 7,800

Market benchmark Sensex recovered over 99 points and its NSE counterpart Nifty retook the 7,800-mark in early session today on a fresh spell of buying in select blue-chips even as regulator Sebi tightened its guidelines to check any misuse of P-Notes.

A firming trend in rest of Asia lifted sentiment here, brokers said.

The 30-share index was trading up 99.23 points, or 0.39 per cent, at 25,498.95, with IT, consumer durables, capital goods, technology, power, auto and banking staying in the green.

The gauge had fallen 379.89 points in the previous two sessions.

The NSE Nifty-50 index was trading higher by 27.70 points, or 0.35 per cent, at 7,811.10.

Sebi yesterday made rules tougher on controversy-ridden P-Notes, making mandatory for all end-users of these overseas instruments to follow anti-money laundering law in India and asked their issuers to report any suspected breach immediately.

Hong Kong's Hang Seng climbed 1.06 per cent while Japan's Nikkei was up 0.24 per cent in early trade today. China's main Shanghai Composite gained 0.10 per cent.

The US Dow Jones Industrial Average ended 0.52 per cent lower in yesterday's trade.