Mumbai: The benchmark Sensex rose by over 470
points in opening trade today, breaking its six-session long
losing streak on value-buying in select blue-chips by domestic
investors triggered by a recovery in global markets.
The 30-share BSE index gained 470.39 points, or 1.37 per
cent, at 34,666.33 in opening trade. Also, the NSE Nifty rose
by 115.75 points, or 1.10 per cent, to 10,614.
All sectoral indices, including realty, metal, consumer
durables and banking advanced up to 2.56 per cent.
The gauge had lost 2,087.31 points in the previous six
sessions following a global rout in equities inflicted by
inflation worries and imposition of a 10 per cent long-term
capital gains tax on equities.
Emergence of buying at prevailing lower levels after
recent losses and a better trend at other Asian markets,
following overnight gains at the Wall Street helped both the
key indices recover.
Caution prevailed as investors kept their positions at a
low ebb amid expectations that the RBI may keep rates
unchanged, brokers said.
Domestic institutional investors (DIIs) made purchases
worth Rs 1,699.74 crore yesterday, as per provisional data.
Major gainers such as Tata Steel, Tata Motors, ONGC,
IndusInd Bank, Dr Reddy's, Maruti Suzuki, SBI, M&M, Bharti
Airtel, Adani Ports, Axis Bank, Kotak Bank, Hero MotoCorp,
ICICI Bank and RIL rose up to 2.14 per cent.
Among the Asian bourses, Hong Kong's Hang Seng was up
1.59 per cent, Japan's Nikkei rose 3.06 per cent, while
Shanghai Composite Index fell 0.65 per cent in early trade
today.
The US Dow Jones Industrial Average ended 2.33 per cent
lower yesterday.
PTI
