Sensex Rallies Nearly 400 points, Nifty Above 10,250-mark

Sensex Rallies Nearly 400 points, Nifty Above 10,250-mark April 5, 2018

Mumbai: Domestic equities staged a strong comeback on Thursday 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.

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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.

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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.

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Elsewhere in Asia, Japan’s Nikkei was up 1.63 per cent, while Hong Kong and Shanghai markets were shut on Thursday for a public holiday.The US Dow Jones Industrial Average ended 0.96 per cent higher in on Wednesday’s trade.

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