Sensex up 288 pts on value buying, global cues

The market rebounded strongly after a week-long sluggish trend amid value buying by domestic funds and positive global cues, pushing up the BSE Sensex by 288 points to 27,746.87 in the morning trade.
The NSE Nifty was up 79 points quoting at 8,420.85 at 1100 hrs.
Value buying saw seen mainly in capital goods, FMCG, Pharma, Power, Banking and Tech counters.
Retail investors were also seen entering fresh on small cap and mid cap counters with their indices, BSE Small-cap and Mid-cap surging by 2.40 per cent and 1.27 per cent respectively.
HDFC, ITC, HDFC Bank, L&T, Bharti Airtel, M&M, SBI, Infosys, Axis Bank, HUL, Cipla, Wipro and BHEL attracted good buying interest.

The BSE 30-share barometer resumed with wide upside gap of nearly 200 points and rallied further to quote at 27,746.87 at 1100hrs, up by 288.23 points or 1.05 pct.

The broad-based 50-issue CNX Nifty of the NSE also bounced back by 79.45 points or 0.95 pct to regain 8,400-mark to quote at 8,420.85.
Asian stocks were trading higher today on positive closing of US stocks on last weekend, absorbing Fed chair Janet Yellen's remark ahead of Q1 earnings in April regarding rise in interest rates this year.
Meanwhile, Foreign Portfolio Investors (FPIs) sold shares worth Rs 320.52 crore while Domestic Institutional Investors (DIIs) bought shares worth Rs 674.76 crore last Friday, as per provisional data.