Snapping two-day losing streak, Sensex recovers 100 points

Snapping a two-day losing streak, the benchmark BSE Sensex rebounded by 100 points to 27,931.64 mainly driven by gains in export-focussed stocks including Sun Pharma, Lupin and Wipro on optimism that a weak rupee is likely to boost their earnings.

Snapping a two-day losing streak, the benchmark BSE Sensex rebounded by 100 points to 27,931.64 mainly driven by gains in export-focussed stocks including Sun Pharma, Lupin and Wipro on optimism that a weak rupee is likely to boost their earnings.

Sentiment also turned better on recovery in the Shanghai index, which settled in the positive zone despite falling more than 4% during the day.

In early morning trade, the rupee had weakened to around two-year lows at 65.40 against the greenback. Sun Pharma was the top gainer by climbing 4.32% to Rs 927.25 on BSE. Cipla and Dr Reddy's surged by 1.79% and 1.07%, respectively.

Lupin rallied by 2.59 %. The 30-share Sensex had opened lower at 27,721.25 on sustained selling pressure along with bearish global cues.

However, on the back of value-buying in blue-chip stocks, it staged a comeback to regain the 28,000 mark to touch the day's high of 28,021.39.

The index finally settled 100.10 points or 0.36% higher at 27,931.64. The gauge had lost 235.77 points in previous two sessions.

However, Hindalco, SBI, Coal India and Axis Bank witnessed selling pressure. Meanwhile, foreign investors sold shares worth Rs 255.42 crore, on Tuesday.

Sectorally, the BSE Healthcare index gained the most by rising 2.63%, followed by consumer durables 1.39%, IT 0.72% and capital goods 0.51%.

Broader markets too ended positive with small-cap and mid-cap indices rising by up to 0.24%. Mixed trend in other Asian and lower opening at European markets also influenced sentiment.