Sensex Rebounds more than 100 Points and Nifty above 9,600

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The BSE Sensex rebounded 107 points and the NSE Nifty recovered the 9,600-mark today, propelled by the exports growth in May amid mixed Asian cues.

The 30-share index recovered sharply by 107 points, or 0.34%, to 31,182.73, with all sectoral indices led by auto, customer durables, realty and oil and gas trading in the positive zone. The gage had lost 80.18 points in the past session.

The NSE Nifty climbed by 30.10 points, or 0.31%, to 9.608.15.

Risk appetite got a push after India’s exports grew 8.32% to $24.01 billion in May, mainly on account of robust performance by sectors like petroleum, chemicals, engineering goods as well as gems and jewellery.

Global crude falling to a 7-month low supported the positive mood.

Major supporters of the index were Tata Motors, M&M, NTPC, GAIL, ITC Ltd, Tata Steel, Coal India, ICICI Bank, Axis Bank, TCS and Maruti Suzuki, picking up by up to 1.46%.

Meanwhile, DIIs purchased shares worth a net Rs. 854.85 crore while foreign portfolio investors (FPIs) sold offers worth Rs. 654.35 crore yesterday, according to provisional data.

Among other Asian markets, Hong Kong’s Hang Seng was up by 0.32% while Japan’s Nikkei rose 0.53% in early trade today. Shanghai Composite, however, was down 0.12%.

The US Dow Jones Industrial Average finished 0.02% lower yesterday.

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