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Monday 9 December 2019
Economy Sensex recovers 140 points in early trade on positive...

Sensex recovers 140 points in early trade on positive GDP data

Mumbai: India’s Bombay Stock Exchange Sensex recovered over 140 points in early session Friday after fresh buying in bluechips triggered by positive gross domestic product (GDP) numbers for the September quarter amid mixed Asian cues.

Besides, investors creating new positions following the beginning of the December futures and options (F&O) series also lifted the key indices.

The 30-share index, which had lost 575.09 points in the previous three sessions, was trading higher by 140.49 points, or 0.42 per cent, at 33,289.84.

All the sectoral indices led by realty, auto and healthcare were trading in the positive zone with gains up to 1.29 per cent.

The Nifty also rebounded 43.85 points, or 0.42 per cent, to 10,270.40.

Sentiment got a boost after data showed that India’s economy expanded by 6.3 per cent in the July-September quarter as manufacturing revved up and business adjusted to the new GST tax regime, reversing a five-quarter slide in GDP growth, brokers said.

Auto stocks were in keen demand on expectations of encouraging November sales data.

Big gainers that supported the key indices include Tata Motors, ONGC, TCS, Sun Pharma, L&T, Kotak Bank, Adani Ports, ICICI Bank, Reliance Industries, Hero MotoCorp, M&M, Maruti Suzuki, NTPC and ITC Ltd with gains of up to 1.22 per cent.

A mixed trend at other Asian markets and overnight gains at Wall Street as the Dow Jones finished above 24,000 points for the first time on Thursday as the Senate tax cut plan moved closer to passage, too influenced sentiments here.

Hong Kong’s Hang Seng was up 0.01 per cent and Japan’s Nikkei was almost flat in their early sessions while Shanghai Composite index fell 0.20 per cent.

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