Sensex soars over 360 points, Nifty reclaims 7,800-mark

Market benchmark BSE Sensex bounced back by over 350 points and the broader NSE Nifty crossed the 7,800-mark in pre-noon trade Monday on the back of buying by foreign funds and retail investors amid mixed Asian markets.

The 30-share barometer rose by 360.52 points, or 1.43 percent, to 25,589.02 after moving in range of 25,608.59 – 25,302.86. The gauge had lost 33.71 points in the previous session.

All the sectoral indices led by banking, FMCG, power, metal and auto were trading in the positive zone, rising by up to 2 percent.

The Nifty regained the crucial 7,800-mark by advancing 103.95 points, or 1.34 percent, to 7,837.40.

Brokers said fresh buying by participants amid a mixed trend at other Asian bourses, tracking Friday’s rally on the US markets as a soft jobs report gave investors hope the Federal Reserve would keep any future interest rate hike small and slow, mainly influenced sentiment.

Prominent gainers were NTPC, HDFC Ltd, HDFC Bank, Asian Paints, M&M, Adani Ports, ICICI Bank, Hero MotoCorp, ONGC, Bharti Airtel, L&T and Bajaj Auto.

Among Asian markets, Japan’s Nikkei was up 0.54 percent while Hong Kong’s Hang Seng gained 0.31 percent in early trade today. Shanghai Composite Index, however, sank 1.87 percent on another weak Chinese trade report.

The US Dow Jones Industrial Average ended 0.45 percent higher in Friday’s trade.

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Source:Zeenews

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