BSE Sensex soars by 325 points to trade above 27,000 level

Mumbai :The benchmark BSE Sensex soared by 325 points to trade above the 27,000 level today following a flurry of buying by investors amid strong Asian trends.

The 30-share index, which had lost 190.04 points in the previous, rebounded by 325.38 points, or 1.21 per cent, to 27,171.19 points.

All sectoral indices led by metal, capital goods, realty and banking were in the positive zone, rising up to 1.67 per cent.

The NSE Nifty too recaptured 8,200-mark by climbing 82.60 points, or 1.01 per cent, to 8,211.95.
Brokers said all-round buying by participants, tracking a rally at the other Asian markets following overnight gains at the Wall Street helped the indices rebound.

Global markets were firm after Federal Reserve meeting minutes raised expectations the US central bank will not hike rates any time soon.

In other markets in Asia, Hong Kong’s Hang Seng rallied 1.76 per cent while Japan’s Nikkei uptick 0.78 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.82 per cent higher in yesterday’s trade.

The rupee extended its gains by 26 paise to 64.80 against the US currency in late morning deals on sustained bouts of dollar selling by banks and exporters amid weak dollar overseas.

The rupee opened higher at 64.90 per dollar as against overnight level of 65.06 per dollar at the Interbank Foreign Exchange (Forex) market.

It hovered in the range of 64.9250 to 64.7525 per dollar during the morning deals before quoting 64.80 at 1030 hrs.
The dollar index currently trading lower by 0.08 per cent at 95.22 as against a basket of six currencies.

In New York, US dollar fell after the release of the Fed minutes, while the euro gained. The minutes from the September meeting revealed that the FOMC did not raise rates in part because of global growth concerns.

Meanwhile, the benchmark BSE Sensex was trading up by 329 points to 27,174.61 at 1035 hrs.