Sensex rebounds 274 points, Nifty above 10,200-mark, seeing opening gains
What's the story
Snapping their six-day losing streak, stocks staged a strong comeback in early trade today, with BSE Sensex rebounding by 274 points and Nifty recapturing the 10,200-mark on fresh buying by domestic institutional investors.
Asian markets were also trading in the green, boosted by easing fears of a global trade war as White House signaled it would water down plans for contentious metal-tariffs.
Here's more.
Information
Sensex rises by 0.82%
The 30-share Sensex rose by 273.75 points, or 0.82%, to 33,306.84 points. It lost 1,412.66 points in the previous six sessions. All the sectoral indices, led by realty, tech, IT, consumer durables and metal, were trading in the green with gains of up to 1.32%.
Nifty
ICICI, HDFC, Airtel among others support Nifty recovery
The broad-based NSE Nifty went up by 80.65 points or 0.79% to 10.234.85 points.
Major gainers that supported recovery were ICICI Bank, HDFC, Bharti Airtel, Infosys, Tata Steel, RIL, Dr. Reddy's, Axis Bank, ITC, Sun Pharma, Adani Ports, HUL, SBI, L&T, and Maruti Suzuki, rising up to 2.11%.
Buying by domestic institutional-investors amid a firm trend at other Asian bourses led the markets higher.
Details
US Dow Jones Industrial Average plunges 0.33%
Domestic institutional investors bought shares worth a net Rs. 409.34cr, while foreign portfolio investors sold shares worth a net Rs. 719.78cr yesterday, provisional data showed.
In the Asian region, Hong Kong's Hang Seng was up 1.41%, Japan's Nikkei rose 0.75%, and Shanghai Composite Index was up 0.29% in early trade.
The US Dow Jones Industrial Average, however, ended 0.33% lower in yesterday's trade.