Brokers said fresh buying by investors in selective bluechip stocks at prevailing levels and a firm trend at other Asian markets after data showed China’s economy grew more than expected in the second quarter, mainly fuelled the recovery.
The benchmark Sensex recovered over 200 points to trade above the 28,000 mark in early trade today on the back of value-based buying in capital goods, realty, metal, auto and PSU stocks amid firm Asian cues.
The wider Nifty of NSE also crossed the 8500 level by rising 61.40 points, or 0.73 per cent, to 8,515.50 as 45 constituents of the index advanced.
Brokers said fresh buying by investors in selective bluechip stocks at prevailing levels and a firm trend at other Asian markets after data showed China’s economy grew more than expected in the second quarter, mainly fuelled the recovery.
Buying activity also spread to small-cap and mid-capcompany stocks, they said. At 1000 hrs, the BSE Sensex was trading higher by 214.20 points, or 0.77 per cent, at 28,147.10 points with all the constituents in the positive zone.
Among major gainers, Maruti rose by 2.11 per cent, ONGC rose by 1.81 per cent, Reliance by 1.18 per cent and Wipro by 1.68 per cent.
Among other Asian markets, Japan’s Nikkei was up 0.46 per cent while Hong Kong’s Hang Seng moved up by 0.39 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.42 per cent higher in yesterday’s trade.
PTI