Domestic equities staged a strong comeback today with the BSE Sensex rebounding by nearly 400 points and the Nifty reclaiming the 10,250-mark on receding fears of a US-China trade war.
Investors were also awaiting RBI’s monetary policy outcome, scheduled later in the day.
The 30-share Sensex spurted by 393.60 points, or 1.19 per cent, to 33,412.67 in opening trade. The gauge had lost 351.56 points in the previous session.
All the sectoral indices, led by metal, realty and auto stocks, were trading in the green with gains of up to 2.26 per cent.
The broad-based NSE Nifty went up by 129.05 points, or 1.27 per cent, to 10,257.45.
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 per cent.
A firm trend in other Asian markets and overnight gains on Wall street buoyed the trading sentiments here.
Brokers said buying by retail investors and fresh foreign fund inflows amid a firm trend in global markets led the markets higher.
Elsewhere in Asia, Japan’s Nikkei was up 1.63 per cent, while Hong Kong and Shanghai markets were shut today for a public holiday today.
The US Dow Jones Industrial Average ended 0.96 per cent higher in yesterday’s trade.