Sensex Rises From The Red With 150 Point Jump

16/11/2015 5:30 PM IST | Updated 15/07/2016 8:25 AM IST
Bloomberg via Getty Images
An employee is reflected in a glass panel as he monitors securities on a computer monitor at a brokerage firm in Mumbai, India, on Tuesday, Aug. 25, 2015. Indian stocks advanced in volatile trading a day after the benchmark gauge plunged the most in six years, as banks helped counter declines in software exporters. Photographer: Dhiraj Singh/Bloomberg via Getty Images

MUMBAI -- Market today recovered from two-month lows as the benchmark Bombay Stock Exchange (BSE) Sensex rose by 149.57 points to 25,760.10 on value-buying in recently beaten-down blue-chips as domestic investors shrugged off weak global cues.

Besides, the broad-based NAtional Stock Exchange (NSE) Nifty reclaimed the 7,800- level to hit a high of 7,838.85 before settling at higher 7,806.60, 44.35 points or 0.57 per cent.

Domestic shares had opened on a weaker note, tracking heavy selling in other Asian markets, which remained subdued in their early trade in the wake of last week's deadly attacks in Paris and downbeat data from Japan.

Equity brokers say the market mood remained jittery despite the rebound.

The 30-share Sensex after falling to 25,451.42 points, a two-month low, staged a strong comeback towards the middle of session to scale day's high of 25,866.42. It finally settled at 25,760.02, a gain of 149.57 or 0.58 per cent -- its second gain in the past eight sessions.

Rate-sensitive banking, realty, healthcare and capital goods stocks led the recovery.

Meanwhile, wholesale price index-based inflation stood at (-) 3.81 per cent in October, as against (-) 4.54 per cent in September, boosted investor sentiment as an uptick in October inflation showed signs of a revival in consumer demand.

The rise in Sensex was supported by Gas Authority of India Limited (GAIL), which surged the most firming by 4.62 per cent, followed by Tata Steel 3.44 per cent, Dr Reddy's 3.43 per cent, State Bank of India (SBI) 3.23 per cent, Vedanta 2.75 per cent and ITC 2.69 per cent, among others.

Among 30 Sensex components, 22 stocks advanced.

Sectorwise, the BSE bankex gained the most by rising 1.51 per cent, followed capital goods 1.07 per cent, FMCG index 0.50 per cent healthcare index 0.49 per cent.

Buying activity by retail investors helped the small-cap and mid-cap indexes gain up to 0.50 per cent.

Other Asian markets saw a mixed trend after data showed Japan's economy slipped back into recession in the September quarter, while European stocks were slightly better in their early trade.

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