Sensex jumps 133 pts on funds inflows, Asian cues
Mumbai: The benchmark BSE Sensex surged over 133 points and the NSE Nifty reclaimed the 8,000-level in early trade today on the back of fresh foreign capital inflows amid renewed hopes of a rate cut by RBI.
Furthermore, a firming trend at other Asian markets tracking overnight gains on Wall Street gave sentiment a boost.
The 30-share barometer recovered by 133.24 points, or 0.50 per cent, to 26,326.22, with all sectoral indices led by IT, consumer durables and realty landing in the positive zone with gains up to 1.31 per cent.
The gauge had lost 25.93 points in yesterday’s choppy trade.
The NSE Nifty index took back the 8,000-mark by rising 39.60 points, or 0.50 per cent, to 8,016.70.
Brokers said fresh foreign capital inflows and renewed prospects of a rate cut by the Reserve Bank at its policy meet later this month largely due to positive macroeconomic numbers, including easing inflation, influenced mood.
Elsewhere in Asia, Hong Kong’s Hang Seng was up by 0.69 per cent while Shanghai Composite rose 0.71 per cent in early trade. Financial markets in Japan remained closed today for a public holiday. Trading will resume on Thursday.
The US Dow Jones Industrial Average ended 0.77 per cent higher yesterday.