Sensex jumps over 173 points as value-buying makes a comeback
Brokers said value-buying in blue-chip stocks by the participants after recent losses and a rising trend at other Asian markets tracking overnight gains in the US as hopes of an early rate hike diminished, boosted market sentiment here.
The benchmark BSE Sensex recouped over 173 points in early trade today on value-buying by participants amid a firming trend at other Asian markets.
The 30-share barometer rose 173.51 points, or 0.63%, to 27,379.57, with power, infrastructure, auto, IT, consumer durables, FMCG and banking stocks leading the gains.
The gauge had lost 45.04 points in yesterday's volatile trade.
On similar lines, the benchmark NSE index Nifty traded higher by 55 points, or 0.66%, at 8,279.20.
Brokers said value-buying in blue-chip stocks by the participants after recent losses and a rising trend at other Asian markets tracking overnight gains in the US as hopes of an early rate hike diminished, boosted market sentiment here.
Among Asian markets, Hong Kong's Hang Seng index was up by 0.62% while Japan's Nikkei gained 0.63% in early trade.
The US Dow Jones Industrial Average ended 1.06% higher in yesterday's trade.