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Sensex rebounds 185 points as Clinton's prospects brighten

Sensex hit a strong comeback and closed at 27,458.99 after the FBI announced that Presidential candidate Hillary Clinton would not face criminal charges over her use of private emails.

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Sensex staged a strong comeback to end with a gain of nearly 185 points, reversing its five-session losing run and tracking rebound in global market on Monday after prospects of Hillary Clinton brightened in the US presidential race following an FBI reprieve.

Moreover, covering-up by speculators, who had been creating short positions, too gave equities a push. After a gap-up opening at 27,552.27 points, the Sensex advanced to hit a high of 27,591.15. However, due to profit-booking towards the close, it touched a low of 27,398.72 before settling 184.84 points or 0.68 % higher at 27,458.99. The 30-scrip gauge had lost 667.36 points in the previous five sessions on sustained foreign fund outflows. sentiment got a lift largley in tandem as global markets saw a recovery on Monday after the FBI said market-favourite Hillary Clinton would not face criminal charges over her use of private email service, easing worries amongst investors.

The NSE Nifty after reclaiming the 8,500-point mark, touched a high of 8,535.85 and finally settled at 8,497.05, showing a hefty gain of 63.30 points, or 0.75 %. Buying activity was so strong that all sectoral indices, except capital goods, ended in the green, rising by up to l.94 %. Tracking overall trends, the broader markets were also in better shape with the small-cap surging 1.19 % and the mid-cap index rising 0.59 %. Foreign portfolio investors (FPIs) sold shares worth a net Rs 343.30 crore on Friday, as per provisional data.

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