Market stays positive on buying support, short-covering

Mumbai: Keeping a positive momentum, the BSE Sensex started off by edging up 70 points on Wednesday as domestic investors and retailers stepped up buying amid a mixed trend in Asia.

There was also a rush to cover short positions ahead of the December expiry of derivatives tomorrow -- this year's last -- which supported the upside.

The 30-share barometer rose further by 70.16 points, or 0.26 percent, to 26,283.60.

The gauge had rallied 406.34 points in the previous session after Finance Minister Arun Jaitley underlined the need to have globally compatible tax rates to broad-base the economy.

Also, the NSE Nifty stayed above the crucial 8,000 mark, by gaining 24.75 points, or 0.30 percent, at 8,057.60.

Japan's Nikkei turned higher by 0.03 percent while Hong Kong's Hang Seng shed 0.10 percent in early session today. The Shanghai Composite Index was down 0.25 percent.

The US Dow Jones Industrial Average, however, ended 0.06 percent higher yesterday.