Sensex jumps 132 pts in early trade on rates cut hopes
Mumbai : Market benchmark Sensex rose over 132 points in opening trade today on optimistic buying amid hopes of a rate cut by Reserve Bank and a firm global trend.
The 30-share index, which had lost 72.22 points in the previous session, recovered by 132.46 points or 0.52 per cent, to 25,402.10, with realty, IT, teck, auto, power and capital goods stocks leading the gains.
The NSE Nifty also perked up by 35.00 points or 0.45 per cent to 7,748.05.
Brokers said apart from positive cues from global market, widening of positions by investors and funds on expectations that Reserve Bank might lower key interest rates at its first bi-monthly monetary policy review for 2016-17 tomorrow, influenced sentiment.
Among other Asian markets, Japan’s Nikkei was up 0.21 per cent in early trade. Indexes in Hong Kong and China are closed today for a public holiday.
The US Dow Jones Industrial Average ended 0.61 per cent higher in Friday’s trade.