New Delhi: The BSE Sensex zoomed over 330 points while Nifty re-claimed 10,200-level in the opening trade as global stocks recovered from a selloff triggered by escalating trade tensions propelled by US and China
At 9.19 am the BSE Sensex was trading up 365.00 points or 1.11 percent to 33,384.07 while the NSE Nifty was trading up 122.55 points or 1.21 percent at 10,250.95.
Major gainers that supported the recovery were Tata Motors, Tata Steel, M&M, Adani Ports, Yes Bank, Hero MotoCorp, IndusInd Bank, Axis Bank, SBI, Coal India, L&T, Dr Reddy's, Infosys and Sun Pharma, rising up to 2.68 percent.
The Sensex had plunged 351 points yesterday while Nifty shed 116.60 points in closing.
Sentiment was lifted as the United States expressed willingness to negotiate a resolution to the trade fight after the proposed U.S. tariffs on $50 billion in Chinese goods prompted a quick response from Beijing that it would retaliate by targeting key American imports.
Asian shares bounced from two-month lows on Thursday. MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, a day after it hit its lowest level in almost two month. Japan`s Nikkei gained 1.2 percent.
Markets in mainland China, and those in Hong Kong and Taiwan, are closed on Thursday.
On Wall Street on Wednesday, the S&P 500 gained 1.16 percent and the Nasdaq Composite added 1.45 percent, clawing back heavy losses of more than 1.5 percent right from earlier in the U.S. session.
With Reuters Inputs