Sensex stages strong comeback, rebounds 300 points, Nifty above 8,200

The benchmark Sensex staged a strong comeback by rising over 300 points in early trade today on widespread buying by participants tracking a global market in anticipation of the European Central Bank extending stimulus.

Updated: Dec 08, 2016, 10:43 AM IST
Sensex stages strong comeback, rebounds 300 points, Nifty above 8,200

Mumbai: The benchmark Sensex staged a strong comeback by rising over 300 points in early trade today on widespread buying by participants tracking a global market in anticipation of the European Central Bank extending stimulus.

Also, the broader NSE Nifty again went past the key 8,200-mark in the process.

The 30-share index was trading significantly higher by 314.05 points at 26,551.41 with all the sectoral indices led by metal, auto, PSU and capital goods trading in the green, rising by up to 1.64 percent.

The gauge had lost 155.89 points in the previous session yesterday following the Reserve Bank's decision to leave interest rates unchanged that caught the market by surprise.

Also, the NSE Nifty regained the key 8,200-mark by surging 100.45 points or 1.23 percent to 8,202.50.

Brokers said widespread purchases made by investors as well as foreign funds, triggered by surging equities at other Asian bourses after US stocks hit fresh highs and hopes that ECB will extend its stimulus amid optimism about the American economy after the presidential election mainly bolstered trading sentiments here.

On Thursday, Asian indices were trading in green. Japan`s Nikkei 225 was trading in green, up 0.82 percent, Hang Seng up by 0.58 percent while South Korea`s Kospi was also up by 1.15 percent. China`s Shanghai Composite index was quoting in red, down by 0.07percent.

On a positive note, Nasdaq on Wednesday closed in green, up by 1.13 percent and FTSE 100 rallied up by 1.77 percent at the closing.

With PTI Inputs