Sensex stages comeback, rises over 250 points at 37,418, Nifty reclaims-11,300 mark; Re weak

The 30-share Sensex had lost 441.42 points in the previous two sessions.

Press Trust of India August 03, 2018 10:08:00 IST
Sensex stages comeback, rises over 250 points at 37,418, Nifty reclaims-11,300 mark; Re weak

Mumbai: The benchmark Sensex staged a strong comeback in early trade today gaining over 250 points on widespread buying by participants in rate-sensitive realty, auto and banking stocks.

The 30-share index was trading higher by 253.38 points, or 0.68 percent, at 37,418.54.

All the sectoral indices, led by realty, auto, banking, healthcare, infrastructure, power, oil and gas, PSU and metal, recovered up to 1 percent.

The 30-share Sensex had lost 441.42 points in the previous two sessions.

Sensex stages comeback rises over 250 points at 37418 Nifty reclaims11300 mark Re weak

Representational image. Reuters.

The NSE Nifty reclaimed the 11,300 mark, by rising 70.55 points, or 0.62 percent, to 11,315.25.

Major gainers were Kotak Bank, ONGC, Axis Bank, HDFC, Yes Bank, RIL, TCS, M & M, Sun Pharma, Power Grid, Vedanta, Tata Motors, Adani Ports, Maruti Suzuki, SBI, NTPC, Coal India, Bajaj Auto, HDFC Bank and Tata Steel, rising up to 2 percent.

While, Bharti Airtel, Asian Paints and Wipro trading in the negative zone, falling up to 0.25 percent.

Foreign portfolio investors (FPIs) sold shares worth a net of Rs 639.87 crore, while domestic institutional investors (DIIs) sold shares worth a net of Rs 340.30 crore yesterday, provisional data showed.

Overseas, Asian stocks were mixed, with several regional markets attempting to recover after sliding on trade war jitters.

Shanghai Composite Index was up 0.08 percent, Japan's Nikkei rose 0.32 percent, while Hong Kong's Hang Seng was down 0.22 percent.

The US Dow Jones Industrial Average ended 0.03 per cent lower yesterday.

Rupee hits fresh 1-week low against US dollar

Continuing its fall for the second day, the rupee weakened by another 7 paise to trade at fresh one-week low of 68.77 against the US dollar in early session today due to increased demand for the American currency from importers amid sustained foreign capital outflows.

The dollar's gains against other currencies overseas on worries over escalating trade tensions between the US and China, also impacted the rupee sentiment, a currency dealer said.

They said, a higher opening of the domestic equity market, capped the rupee's losses.

Yesterday, the rupee had dropped by 27 paise to close at a one-week low of 68.70 against the US dollar.

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