Sensex surges 260 points, Nifty above 8,000

The benchmark Sensex reclaimed the 26,000-mark by rising over 260 points and the Nifty regained the key 8,000—level in early trade today, after six days of losses, on widespread buying amid firm Asian cues.

The 30-share Sensex was quoting sharply higher by 260.79 points, or 1.01 per cent, at 26,025.93 in early trade with all the sectoral indices led by metal and auto were trading in the positive zone, gaining by up to 2.20 per cent.

The Sensex had lost 1,752.54 points in the previous six sessions.

The Nifty too was trading above the 8,000 mark by surging 83.30 points or 1.05 per cent at 8,012.40 in early trade.

Brokers said emergence of buying by investors coupled with a better trend in other regional markets following overnight gains in the US and European equity markets influenced sentiments here.

Moreover, sustained buying by domestic institutional investors too supported the recovery, they added.

Among other Asian markets, Hong Kong’s Hang Seng was up 1.37 per cent, while Shanghai Composite Index gained 0.66 per cent in early trade today. Japan’s Nikkei also gained 0.04 per cent.

The US Dow Jones Industrial Average ended 0.47 per cent higher in yesterday’s trade.

Source: The Hindu



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