Sensex rebounds 167 points in early trade
After three sessions of losses, the benchmark BSE Sensex staged a strong comeback to trade 167 points higher in early trade on Friday, following gains in IT stocks, after Infosys reported a rise of 21.6 per cent in Q1 net profit at Rs 2,886 crore. Besides, expectations of encouraging IIP data for May to be released later in the day, also supported the upside.
Brokers said a slew of measures proposed in the Union Budget to revive economic growth and investor confidence also influenced the sentiments. The 30-share index recovered by 167.57 points, or 0.66 per cent, to 25,540.32, with stocks of realty, IT, tech, capital goods, auto and power sectors, leading the recovery.
The gauge had lost 727.33 points in the previous three sessions. Similarly, the National Stock Exchange index Nifty edged higher by 40.25 points, or 0.53 per cent, to 7,608.00.