Sensex earns 24 points on positive Asian cues
The BSE Sensex benchmark rose around 24 points in the opening trade on Monday as investors made selective purchases in blue chip stocks in a better trend on other Asian stock exchanges.
The 30-share index, which had lost 119.01 points in the previous session, recovered 23.86 points, or 0.09%, to 26,783.09, with metallic securities, capital goods , FMCG, PSU,banking, oil and gas stocks leading the recovery.
The NSE Nifty also increased by 19.20 points, or 0.23 percent, to 8,263.
The brokers said that in addition to a better trend to other Asian stock markets following a strong advance in New York where two of the top three indexes closed at a record high on Friday, selective purchases by domestic institutional investors and retail investors Have influenced sentiment.
Meanwhile , the country’s GDP growth is estimated to slow to 7.1 per cent in the current fiscal year, by 7.6 per cent in 2015-16, mainly due to the slump in the manufacturing, mining and Construction, government data released Friday showed, without factoring in volatile “post-demonetisation” figures.
Among other Asian markets, Shanghai Composite Index rose 0.26 percent, while Hong Kong’ Hang Seng was increased by 0.02 percent. The Japanese financial markets are closed on Mondays for a public holiday.
The US Dow Jones Industrial Average ended 0.32 percent more in Friday trading.