The BSE Sensex staged a strong
comeback to end higher by nearly 117 points, reversing its
three-session losing run on gains in telecom, energy, realty,
oil & gas and IT stocks amid firm global cues.
The 30-share index closed higher 116.76 points or 0.36
per cent at 32,506.72. The NSE Nifty closed at 10,184.85,
showing a gain of 38.30 points, or 0.38 per cent.
Moreover, covering-up by speculators who had been
creating short positions too gave equities a push.
Sentiment also got a lift after Revenue Secretary Hasmukh
Adhia yesterday said some rejig in GST rate structure
is required to reduce the burden on small and medium
businesses, brokers said.
Besides, positive cues from Asian markets with the
Japan's Nikkei posting the longest winning-streak in its
nearly 70-year history as markets cheered the weekend
election victory of Japan's pro-business prime minister, had
positive impact, they said.
After a long Diwali-holiday break, market commenced on a
strong note at 32,411.86 points, tracking a firm trend at
other Asian markets. But stocks quickly slipped into the
negative zone to hit a low of 32,312.74 as participants booked
profits at improved levels.
However, revival of buying towards the middle of the
session helped the index wipe out losses and touch a high of
32,614.89 before settling 116.76 points or 0.36 per cent
higher at 32,506.72.
Overall, in the last three straight sessions, the 30-
share barometer had lost 243.68, including 194.39 points on
the first day of Samvat 2074 in one-hour special 'Muhurat'
session on Thursday on sustained foreign fund outflows.
The NSE Nifty after reclaiming the key 10,200-point mark,
touched a high of 10,224.15 but settled lower at 10,184.85,
showing a sizeable gain of 38.30 points, or 0.38 per cent.
Intra-day, it also hit a low of 10,124.50.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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