Sensex rebounds 210 pts on global cues, shrinking CAD
Mumbai : Taking positive leads from the global market and a narrowing current account deficit, the benchmark BSE Sensex recovered sharply by almost 210 points and the NSE Nifty recaptured the 7,800-mark in early trade today on the back of widespread gains in blue-chips.
Besides, covering-up of short positions by speculators helped things.
The 30-share index recovered 209.87 points, or 0.82 per cent, to 25,800.52, with all sectoral indices led by metal, healthcare and realty trading in the green, advancing by up to 1.40 per cent.
The barometer lost 145.25 points in the previous session. Also, the NSE Nifty retook the 7,800-level by recovering 60.30 points, or 0.77 per cent, at 7,846.40.
Brokers said a fresh spell of buying triggered by a firming trend at other Asian bourses following overnight gains in the US in the wake of upbeat data on growth and consumer spending buoyed sentiment.
Besides, the current account deficit (CAD) narrowed to 1.6 per cent of GDP at USD 8.2 billion in the second quarter ended September, which too was lapped up, they said.
Elsewhere in Asia, Hong Kong’s Hang Seng was up 1.02 per cent while the Shanghai Composite index rose 0.16 per cent in early trade today.
The US Dow Jones Industrial Average closed higher by 0.96 per cent in yesterday’s trade.