Sensex recovers 260 pts in opening trade on Asian cues
The Bombay Stock Exchange benchmark Sensex recovered by over 260 points in opening trade today, snapping its week-long losing streak on emergence of buying by foreign funds, driven by a firming trend in Asian markets.business Updated: May 10, 2010 10:06 IST
The Bombay Stock Exchange benchmark Sensex recovered by over 260 points in opening trade today, snapping its week-long losing streak on emergence of buying by foreign funds, driven by a firming trend in Asian markets.
The 30-share index, which had lost over 788 points in the previous five sessions, bounced back by 260.06 points, or 1.55 per cent cent to 17,029.17 points.
Likewise, the wide-based National Stock Exchange's Nifty rose 86.05 points, or 1.71 per cent, to 5,104.10 points.
Stocks of oil and gas, metals, realty, capital goods and banking sectors were back in the positive zone.
Brokers said trading sentiments turned better largely on the back of a strong recovery on Asian bourses on reports that the European Union had agreed on a 500 billion euro (USD 638 billion) emergency fund to prevent Greece's debt-crisis from spreading to other countries.
Among gainers Reliance Industries was up 1.80 per cent to Rs 1,052.50, Infosys Technologies rose 0.66 per cent to Rs 2,637, State Bank of India gained 1.87 per cent to Rs 2,268, ICICI Bank 2.12 per cent to Rs 895, Sterlite Industries 2.57 per cent to Rs 732.70, Tata Motors by 2.81 per cent to Rs 783.95 and DLF Ltd by 2.16 per cent to Rs 291.20.
Meanwhile, Japan's Nikkei was up 1.30 per cent, while Hong Kong's Hang Seng gained 1.11 per cent in the morning trade on Monday.