The domestic equities staged a strong comeback in the early trading today in both the stock exchanges on receding fears of a US-China trade war.
Investors were also awaiting RBI’s monetary policy outcome, scheduled later in the day.
The benchmark 30 share BSE-Sensex rose 393.60 points or 1.19 percent above at 33412.67 in the early hours of trade on Thursday. Earlier the gauge had lost over 350 points in the previous session.
Sectoral indices led by metal, auto, and realty stocks were trading in green with a gain of over 2 percent.
The broader 50-share Nifty of the National Stock Exchange (NSE) increased by 129.05 points (1.27 percent) to 10257.45.
Major gainers that supported recovery were Tata Steel, Tata Motors, Adani Ports, M&M, Adani Ports, hero MotoCorp, Yes Bank, Axis Bank, SBI, Coal India, IndusInd Bank, L&T, Dr. Reddy’s, Infosys and Sun Pharma rising up by 2.68 percent.
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 the global market led the markets higher.
In other Asian Markets, Japan’s Nikkei was up by 1.63 percent. Markets in Hong Kong and Shanghai were shut for a public holiday today.
The US Dow Jones Industrial Average ended 0.96 percent higher on Wednesday trade. S&P 500 gained 1.16 percent while Nasdaq also rises by 1.45 percent.