Sensex back in green after 2-month low, jumps 150 points
Market on Monday recovered from two-month lows as the benchmark BSE Sensex rose by 149.57 points to 25,760.10 on value-buying in recently beaten-down blue-chips as domestic investors shrugged off weak global cues.business Updated: Nov 16, 2015 17:05 IST
Market on Monday recovered from two-month lows as the benchmark BSE Sensex rose by 149.57 points to 25,760.10 on value-buying in recently beaten-down blue-chips as domestic investors shrugged off weak global cues.
Besides, the broad-based NSE Nifty reclaimed the 7,800-level to hit a high of 7,838.85 before settling at higher 7,806.60, 44.35 points or 0.57%.
Domestic shares had opened on a weaker note, tracking heavy selling in other Asian markets, which remained subdued in their early trade in the wake of last week’s deadly attacks in Paris and downbeat data from Japan.
Equity brokers say the market mood remained jittery despite the rebound. The 30-share Sensex after falling to 25,451.42 points, a two-month low, staged a strong comeback towards the middle of session to scale day’s high of 25,866.42.
It finally settled at 25,760.02, a gain of 149.57 or 0.58% -- its second gain in the past eight sessions.
Rate-sensitive banking, realty, healthcare and capital goods stocks led the recovery.
Meanwhile, wholesale price index-based inflation stood at (-)3.81% in October, as against (-) 4.54% in September, boosted investor sentiment as an uptick in October inflation showed signs of a revival in consumer demand.
The rise in Sensex was supported by GAIL, which surged the most firming by 4.62%, followed by Tata Steel 3.44%, Dr Reddy’s 3.43%, SBI 3.23%, Vedanta 2.75% and ITC 2.69%, among others.
Among 30 Sensex components, 22 stocks advanced. Sectorwise, the BSE bankex gained the most by rising 1.51%, followed capital goods 1.07%, FMCG index 0.50% healthcare index 0.49%. Buying activity by retail investors helped the small-cap and mid-cap indexes gain up to 0.50%.
Other Asian markets saw a mixed trend after data showed Japan’s economy slipped back into recession in the September quarter, while European stocks were slightly better in their early trade.