Opening Bell: Sensex Gains 83 Points, Nifty Rose by 24 Points to 10,540.95 in Morning Trade

Mumbai, May 22: The BSE Sensex rebounded over 83 points in opening trade today, breaking its five-session losing streak on value-buying in select blue-chips amid a strengthening rupee. Overseas, most Asian shares were trading higher, tracking strong closing in the US market overnight as investors applauded easing of trade tensions between the US and China, traders said.

The 30-share BSE index jumped 83.74 points, or 0.24 percent, to 34,699.87 in early trade. The NSE Nifty too rose by 24.25 points, or 0.23 percent, to 10,540.95. Sectoral indices, including capital goods, consumer durables, infrastructure and oil and gas, advanced up to 0.46 percent. The Sensex had lost 940.58 points in the previous five sessions as investors rushed to unwind bets following post-poll instability in Karnataka amid discouraging global cues.

Domestic institutional investors (DIIs) made purchases worth Rs 1,190.56 crore while foreign portfolio investors (FPIs) sold shares worth a net Rs 496.03 crore yesterday, as per provisional data. Major gainers were Dr Reddy's, Bajaj Auto, ONGC, Coal India, Tata Motors, HDFC Bank, NTPC, L&T and HDFC Ltd, rising up to 1.47 percent. Among the Asian bourses, Singapore was up by 0.04 percent, Taiwan inched up 0.08 percent, while Japan's Nikkei shed 0.01 percent and Shanghai Composite Index fell 0.47 percent in early trade. The US Dow Jones Industrial Average ended 1.21 per cent higher yesterday.

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