Sensex rebounds, up 66 points in opening trade
The Bombay Stock Exchange benchmark Sensex recovered by over 66 points in the opening trade today, after two straight sessions of losses, on the back of renewed buying by foreign funds.business Updated: Jun 09, 2010 11:12 IST
The Bombay Stock Exchange benchmark Sensex recovered by over 66 points in the opening trade today, after two straight sessions of losses, on the back of renewed buying by foreign funds.
The 30-share index, which lost almost 500 points over the last two days, staged a comeback to trade 66.26 points, or 0.39 per cent, higher at 16,683.36 points.
Stocks of oil and gas, realty and auto sectors led the recovery.
The wide-based National Stock Exchange's Nifty rose by 21 points, or 0.36 per cent, to trade above the 5,000-points level at 5,008.10.
Brokers said overnight gains on the US market, which ended 1.26 per cent higher, and firm opening on Asian bourses, triggered selective buying by foreign funds as well as retail investors.
Among major gainers, Reliance Industries rose by 0.87 per cent to Rs 1,005.10, Reliance Infra by 1.01 per cent to Rs 1,067.50, Sterlite Industries by 0.71 per cent to Rs 613.70, Tata Steel by 0.22 per cent to Rs 453.40, DLF Ltd by 1.38 per cent to Rs 261 and ONGC by 1.13 per cent to Rs 1,183.50.
Stocks of Bharti Airtel shot up 2.29 per cent to Rs 263.70 on completion of the acquisition of Kuwait-based Zain Telecom's Africa business for $10.7 billion (about Rs 48,000 crore).
In the auto segment, Maruti Suzuki gained 0.78 per cent to Rs 1,303.90, Hero Honda 0.28 per cent to Rs 1,939 and Mahindra and Mahindra 1.05 per cent to Rs 577.