The benchmark Sensex staged a strong comeback in early trade today gaining over 250 points on widespread buying by participants in rate-sensitive realty, auto and banking stocks.
The benchmark Sensex staged a strong comeback in early trade today gaining over 250 points on widespread buying by participants in rate-sensitive realty, auto and banking stocks. The 30-share index was trading higher by 253.38 points, or 0.68 per cent, at 37,418.54. All the sectoral indices, led by realty, auto, banking, healthcare, infrastructure, power, oil and gas, PSU and metal, recovered up to 1 per cent.
The 30-share Sensex had lost 441.42 points in the previous two sessions. The NSE Nifty reclaimed the 11,300 mark, by rising 70.55 points, or 0.62 per cent, to 11,315.25. Major gainers were Kotak Bank, ONGC, Axis Bank, HDFC, Yes Bank, RIL, TCS, M&M, Sun Pharma, Power Grid, Vedanta, Tata Motors, Adani Ports, Maruti Suzuki, SBI, NTPC, Coal India, Bajaj Auto, HDFC Bank and Tata Steel, rising up to 2 per cent. While, Bharti Airtel, Asian Paints and Wipro trading in the negative zone, falling up to 0.25 per cent.
Foreign portfolio investors (FPIs) sold shares worth a net of Rs 639.87 crore, while domestic institutional investors (DIIs) sold shares worth a net of Rs 340.30 crore yesterday, provisional data showed.
Overseas, Asian stocks were mixed, with several regional markets attempting to recover after sliding on trade war jitters. Shanghai Composite Index was up 0.08 per cent, Japan’s Nikkei rose 0.32 per cent, while Hong Kong’s Hang Seng was down 0.22 per cent. The US Dow Jones Industrial Average ended 0.03 per cent lower yesterday.