Markets bounce back, Sensex up above 200 points

Markets bounce back, Sensex up above 200 points

NEW DELHI: After a short blip owing to repo rate hike, the bulls were back on the Street on Friday morning with Sensex and Nifty gaining more than half a per cent each in early trade.
30-share BSE Sensex gained in excess of 160 points at the opening bell to start trading at 37,327.16. At 9.32 am, the index was up 227 points and was back to testing the 37,400-levels. Broader 50-share NSE Nifty too, regained a psychological mark — that of 11,300.

On Thursday, Sensex had tanked more than 350 points, a day after the Reserve Bank of India (RBI) hiked repo rate by 25 basis points (bps). Earlier on Wednesday, on back of RBI‘s decision, the market had snapped a 7-day record setting spree which saw Sensex gain more than 1,100 points.

On Friday morning, all the sectoral sub-indices were in the green — pharma, auto and metal baskets rallying the most.

 

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