Sensex bounces on earnings, coupled with positive global cues

Market benchmark Sensex rebounded 291 points today, its biggest single session gain in nearly 6 weeks, to end at a two-week high of 29,656 ahead of RIL quarterly results, coupled with positive global cues.

Also, the NSE Nifty regained the 9,200 mark.

European markets traded higher as investors cheered the news of ‘-friendly’ Emmanual Macron squaring off with leading far-right candidate Marine Le Pen in the French presidential election, which supported the recovery here.

The 30-share Sensex stayed in the positive terrain through the session on the back of persistent buying and shuttled between 29,681.33 and 29,392.99 before settling up 290.54 points, or 0.99 per cent, at 29,655.84, a level last seen on March 11.

The gauge had lost 57.09 points on Friday largely on profit-booking amid mixed global cues.

The NSE Nifty reclaimed the 9,200-mark by surging 98.55 points, or 1.08 per cent, to close at 9,217.95 after moving in a range of 9,225.40 and 9,130.55.

Better-than-expected earnings posted by private lender HDFC Bank last week buoyed trading sentiment, traders said.

The rupee notching up gains against the dollar also added to the winning run.

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Source:The hindu

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