Sensex rises 258 pts on global rally; Nifty above 9,800

The BSE Sensex rebounded by 258

points today and the NSE Nifty went past the 9,800-mark as

metal and financial stocks led gains, tracking upbeat global

cues on easing geopolitical tensions.

The 30-share Sensex closed at 31,646.46, showing net gain

of 258.07 points or 0.82 per cent as index major RIL, ITC,

HDFC, L&T and HDFC Bank advanced.

The 50-share NSE Nifty reclaimed the key 9,900-mark in

day trade but profit-booking at higher levels trimmed its

gains. The index settled at 9,884.40, up by 88.35 points, or

0.90 per cent.

The rally in domestic equities was largely in line with

the upmove seen in global stocks on signs of easing

geopolitical tensions after US President Donald Trump's

measured response to North Korea missile launches.

Speculators covering up their short positions ahead of

the August derivatives contract expiry tomorrow added

to the gains.

Sentiment also got a boost after the GST revenue got off

to a bumper start. Finance Minister Arun Jaitley yesterday

said that taxes worth Rs 92,283 crore were collected in July

from just 64.42 per cent of the total taxpayer base.

Tax collections are likely to go up further when all the

tax payers would file returns.

In the Sensex kitty, Reliance Industries emerged top

performer by surging 2.12 per cent to Rs 1,564.15, followed by

Adani Ports that rose 1.94 per cent to Rs 389.65.

The Sensex had lost 362.43 points in the previous session

in line with a general weakness across the globe fuelled by

North Korea's missile launch over Japan.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)