Sensex rallies 206 points, Nifty above 8,400
NSE Nifty up by 59.10 points, or 0.70 per cent, to 8,424.75
Mumbai: The benchmark BSE Sensex gained over 206 points and the NSE Nifty reclaimed the 8,400-mark in early trade on May 20, on across-the-board buying by funds and retail investors amid a mixed trend in other Asian markets. Besides, value-buying by participants influenced market sentiment.
The 30-share index, which had lost 41.77 points in the previous volatile session, recovered 206.93 points, or 0.74 per cent, to 27,852.56, with power, banking, realty, oil & gas, technology and IT sector stocks leading the momentum. Also, the NSE index Nifty regained the 8,400 mark by rising 59.10 points, or 0.70 per cent, to 8,424.75.
Brokers said value buying by investors and foreign funds which have been selling in the past several sessions on the Indian bourses, made fresh purchases in yesterday's trade, helped trading sentiment turn for the better. Besides, a mixed trend in Asia played its part, they said.
Among other Asian markets, Japan's Nikkei gained 0.72 per cent while Hong Kong's Hang Seng was down 0.33 per cent in early trade today. The US Dow Jones Industrial Average ended 0.07 per cent higher in yesterday's trade.