Sensex recovers over 100 pts on value buying in healthcare, consumer durables stocks; Nifty reclaims 11,000

Mumbai: The BSE Sensex was trading higher by 179.91 points in late morning deals Tuesday on bouts of bargain hunting and value buying in recently hammered stocks in healthcare, consumer durables, IT, teck, auto, banks, metal and FMCG sectors, amid higher Asian cues. Rising crude and global trade tensions weighed on market sentiment ahead of the US Federal Reserve’s meeting. Telecom, utilities, realty, oil and gas and power witnessed selling. The 30-share index was trading lower at 36,484.93 with a gain of 179.91 points, or 0.50 percent, at 1055 hrs. [caption id=“attachment_4472957” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] The broader Nifty50 index trading reclaimed the 11,000-level, up 44.65 points, or 0.41 percent, at 11,012.05. Major gainers were Yes Bank, Sun Pharma, Axis Bank, Asian Paints and IndusInd Bank, rising up to 3.16 percent. Losers include PowerGrid, Adani Ports, Bharti Airtel, Tata Steel and Kotak Bank, falling up to 1.86 percent. Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 523.94 crore on a net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,527.67 crore Monday, provisional data showed. Most Asian markets were trading higher. Exchanges in Hong Kong and South Korea are closed for public holidays. Investors were cautious as the latest round of US-China tariffs revived fears the trade dispute would knock down global growth, while crude oil surged near four-year highs after Saudi Arabia and Russia ruled out immediate production increases. US stocks closed mostly lower on US-China trade war concerns. Investors were also looking ahead to the Federal Reserve’s two-day monetary policy meeting.