Sensex zooms by over 300 points, Nifty above 8,600-mark on GST boost

The 30-share index was trading up 312.70 points, or 1.13 percent, at 28,027.07 after moving in range of 28.032.52- 27,795.74.

Updated: Aug 05, 2016, 10:33 AM IST
Sensex zooms by over 300 points, Nifty above 8,600-mark on GST boost

Zee Media Bureau

New Delhi: Market benchmark Sensex rallied over 300 points and its counterpart NSE Nifty regained the 8,600-mark in early session Friday on a fresh spell of buying in select blue-chips by investors amid sustained foreign fund inflows.

Investors sentiment got a boost after the long-pending indirect tax reform Goods and Services Tax (GST) Constitutional Amendment bill was passed by Rajya Sabha on Wednesday.

 

Besides, a firming trend in rest of Asia after the Bank of England announced a interest rate cut and fresh stimulus package to counter the fallout from Britain's vote to quit the European Union also lifted sentiment here.

The 30-share index was trading up 312.70 points, or 1.13 percent, at 28,027.07 after moving in range of 28.032.52- 27,795.74.

The gauge had gained 16.86 points in the previous volatile session.

The NSE Nifty-50 index was trading higher by 83.70 points, or 0.98 percent, at 8,634.80.

In Asia, Hong Kong's Hang Seng climbed 1.31 percent while Japan's Nikkei was up 0.28 percent in early trade today. China's main Shanghai Composite, however, shed 0.20 percent.

The US Dow Jones Industrial Average ended 0.02 percent lower in yesterday's trade.

With PTI Inputs