Sensex rebounds 159 pts on shrinking CAD, global cues
The benchmark BSE Sensex regained the 27,000 mark by soaring over 159 points in early trade today on increased buying by participants after the current account deficit (CAD) narrowed sharply to USD 1.3 billion, or 0.2 per cent of GDP, in the fourth quarter of FY15 amid positive global cues.
Rising for the second day, the 30-share index recaptured the crucial 27,000 mark by gaining 159.64 points, or 0.59 per cent, to trade at 27,000.14 as all sectoral indices, led by realty, consumer durables, healthcare, capital goods and FMCG, were trading in the positive zone with gains of up to 1.35 per cent.
The gauge had gained 359.25 points in the previous session. On similar lines, the NSE Nifty spurted 31.80 points, or 0.39 per cent, to 8,156.25.
Brokers said a firming trend at other Asian markets following a strong closing in US markets amid hopes of a Greek debt deal buoyed trading sentiment here. Besides, covering-up of short positions in select blue-chips by speculators supported the upside, they added.
Among other Asian markets, Hong Kong's Hang Seng was up 0.83 per cent while Japan's Nikkei gained 1.44 per cent in early trade today. The US Dow Jones Industrial Average ended 1.33 per cent higher in yesterday's trade.