Sensex bounces 107 points on exports growth

The BSE Sensex rebounded 107 point sand the NSE Nifty reclaimed the 9,600-mark today, propelled by the exports growth in May amid mixed Asian cues.

The 30-share index recovered sharply by 107 points, or 0.34 per cent, to 31,182.73, with all sectoral indices led by auto, consumer durables, realty and oil and gas trading in the positive zone.

The gauge had lost 80.18 points in the previous session. The NSE Nifty moved up by 30.10 points, or 0.31 per cent, to 9.608.15. Risk appetite got a push after India’s exports grew 8.32 per cent to USD 24.01 billion in May, mainly on account of robust performance by sectors like petroleum, chemicals, engineering goods as well as gems and



jewellery.

Global crude falling to a 7-month low supported the positive mood. Major contributers to the index were Tata Motors, M&M, NTPC, GAIL, ITC Ltd, Tata Steel, Coal India, ICICI Bank, Axis Bank, TCS and Maruti Suzuki, gaining by up to 1.46 per cent.

Meanwhile, DIIs bought shares worth a net Rs 854.85 crore while foreign portfolio investors (FPIs) sold shares worth Rs 654.35 crore yesterday, as per provisional data. Among other Asian markets, Hong Kong’s Hang Seng was up by 0.32 per cent while Japan’s Nikkei rose 0.53 per cent in early trade today.

Shanghai Composite, however, was down 0.12 per cent. The US Dow Jones Industrial Average ended 0.02 per cent lower yesterday.