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Sensex recovers 245 pts on value-buying, global cues

Press Trust of India  |  Mumbai 

The recovered about 245 points in opening trade today, breaking its two-session losing streak on value-buying by investors and optimism ahead of Council meeting.

Buying by domestic institutional institutions (DIIs) and a firm trend on other Asian bourses, tracking overnight gains in the US markets, influenced trading sentiment.


Expectations that the (goods and serivces tax) Council might give some relief to some sectors by slashing the indirect rates at its meeting which begins today also supported the rebound, brokers said.

The 30-share barometer, which had lost 512.38 points in the previous two straight sessions, was trading higher by 244.99 points, or 0.73 per cent, to 33,463.80, with all the sectoral indices led by & gas, realty, PSU and metal trading in green.

On similar lines, the rose 65.30 points, or 0.63 per cent, to 10,368.45.

Major gainers were Hindustan Unilever, Tata Steel, SBI, Sun Pharma, Industries, ONGC, NTPC, Dr Reddy's, Asian Paint, Axis Bank, ICICI Bank, Wipro, Infosys and Bharti Airtel, posting gains of up to 2.14 per cent.

also rose 1.82 per cent ahead of its Q2 earnings to be announced later in the day.

Among other Asian markets, Hong Kong's Hang Seng was up 0.96 per cent, while Japan's Nikkei rose 1.98 per cent in early trade. China's Shanghai Composite Index was up 0.05 per cent.

The US Dow Jones Industrial Average ended 0.03 per cent higher in yesterday's trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 09 2017. 10:07 IST
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