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Sensex rebounds over 200 points, Nifty above 8570 after Asian cues get going

Currently reading: Sensex rebounds over 200 points, Nifty above 8570 after Asian cues get going
India TV Business Desk, Mumbai [Published on:18 Oct 2016, 10:35:08]

The BSE benchmark Sensex made a promising start by bouncing almost 208 points during the early morning trade session on Tuesday on widespread gains following fresh buying amid a firm trend in Asian markets. 

The 30-share index jumped 207.64 points, or 0.75 per cent, to 27,737.61, with all sectoral indices led by realty, metal and banking making all the right moves. 

The gauge had lost 143.63 points on Monday, spooked by muted start to second quarterly earnings and a lacklustre global trend. The NSE Nifty on Tuesday went up by 56.85 points, or 0.67 per cent, to 8,577.25 points.

Emergence of buying interest among investors and funds, brokers said, coupled with a firm trend in other regional markets following an unexpected fall in a US manufacturing index boosted sentiment in Mumbai. A lower industry number means the US Fed may have to tread cautiously on the interest rate front.

Elsewhere, Hong Kong’s Hang Seng moved up 0.84 per cent while Shanghai Composite gained 0.48 per cent in early trade on Tuesday. 

Japan’s Nikkei too was up 0.14 per cent. The US Dow Jones Industrial Average, however, ended 0.29 per cent lower on Monday.

Sensex- India Tv
Sensex rebounds over 200 points, Nifty above 8570 Photo: REPRESENTATIONAL IMAGE