Sensex, Nifty recover in opening trade today; PSU, FMCG in positive zone
In the opening trade today, the BSE Sensex rebounded over 150 points on value-buying in select bluechip stocks, recovery in rupee and fall in global crude oil prices. The 30-share BSE index recovered by 164.46 points, or 0.43 per cent , to 38,182.77 in opening trade.
In the opening trade today, the BSE Sensex rebounded over 150 points on value-buying in select bluechip stocks, recovery in rupee and fall in global crude oil prices. The 30-share BSE index recovered by 164.46 points, or 0.43 per cent, to 38,182.77 in opening trade. It, however, lost some steam and was trading 48.46 points, or 0.13 per cent, higher at 38,066.87 at 0940 hrs. The NSE Nifty was up 5.20 points, or 0.05 per cent, at 11,482.15.
Sectoral indices, including realty, metal, healthcare, consumer durables, PSU, FMCG and capital goods were trading in the positive zone by rising up to 1.39 per cent.
As rupee slumped to a record low of 71.97 (intra-day) amid trade US-China trade spat and concerns over rising global crude prices, the Sensex had lost 878.32 points in the previous six sessions.
The rupee recovered from its record low by rising 9 paise to 71.66 against the dollar at the forex market today. The domestic unit had closed at record low of 71.75 after scaling intra-day record low of 71.97 Wednesday.
Major gainers were Coal India, PowerGrid, HUL, Tata Motors, Sun Pharma, Kotak Bank, Yes Bank, Asian Paint, Tata Steel, Wipro, SBI and RIL, rising up to 1.46 per cent.
While, Bharti Airtel, TCS, HDFC Bank, Axis Bank and HDFC were among the top losers, falling up to 0.64 per cent.
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Domestic institutional investors (DIIs) made purchases worth a net of Rs 176.95 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 383.67 crore Wednesday, as per provisional data.
Overseas, most Asian shares were trading mixed, tracking higher closing in the US market overnight.
Shanghai Composite Index was up by 0.18 per cent, Hong Kong's Hang Seng shed 0.49 per cent. Japan's Nikkei too shed 0.23 per cent.
The US Dow Jones Industrial Average ended 0.09 per cent higher Wednesday.
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