Sensex bounces 224 pts in early trade on positive Asian cues
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RBI rate cuts benefit only home, car buyers, not us: MSMEsThe benchmark BSE Sensex recovered
about 224 points and the NSE Nifty regained the 10,200 mark in
early trade today on fresh buying by investors amid a firm
trend in Asian markets.
The 30-share barometer, which had lost 194.39 points on
the first day of Samvat 2074 in special 'Muhurat' session on
Thursday, was trading higher by 223.86 points or 0.69 per cent
at 32,613.82.
All sectoral indices led by oil & gas, teck, metal and IT
were trading in the green with gains of up to 1.07.
The NSE Nifty was quoting 61.95 points or 0.61 per cent
higher at 10,208.50.
Brokers said emergence of buying by investors on hopes of
encouraging quarterly earnings from some more blue chip
companies and a firming trend at other Asian markets as
Japanese Prime Minister Shinzo Abe's landslide in a weekend
snap election influenced sentiments here.
Besides, unabated buying by domestic institutional
investors (DIIs), too supported the rebound, they added.
The big gainers were Adani Ports, Bharti Airtel, Hero
MotoCorp, Reliance Industries, Hindustan Unilever, Sun Pharma,
TCS, SBI, ICICI Bank, Coal India, Cipla, Tata Steel, Power
Grid and Wipro, gaining up to 2.33 per cent.
Japan's Nikkei surged 1.02 per cent, while Shanghai
Composite Index up 0,.02 per cent in late morning trade today.
Hong Kong's Hang Seng, however, was down 0.66 per cent.
Meanwhile, the US Dow Jones Industrial Average rose
0.71 per cent to fresh record close in Friday's trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
