Sensex bounces 172 points on positive global cues

Market benchmark Sensex rebounded over 172 points today to close at 29,409.52 and the NSE Nifty went past the 9,100-mark as banking and auto stocks led the gains on the back of upbeat global cues on renewed optimism for tax reforms in the US and continued foreign inflows. The 30-share Sensex scaled the session's high of 29,442.18 before closing up 172.37 points or 0.59 per cent at 29,409.52. It had lost 184.25 points in the previous session on weak global cues.

The 50-share NSE Nifty reclaimed the key 9,100-mark to hit a high of 9,110.40 before ending at 9,100.80, up by 55.60 points, or 0.61 per cent. Sentiment turned positive on continued FII inflows and

Asian recovery after yesterday's sell-off on hopes that the Donald Trump's healthcare bill's failure will lead to the US government taking quicker action on tax reforms, brokers said. Globally, Asian stocks ended up.