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Main » Sensex rebounds 173 points, Nifty tops 8800 in early trade

Sensex rebounds 173 points, Nifty tops 8800 in early trade

11 February 2017

Mumbai: Sensex continued its rally on Friday with 30-share index surging over 111 points in early morning trade. At 0945 hours Sensex was trading at 28,377.09, up 47.39 points or 0.17%, while Nifty was at 8,801.15, up 22.75 points or 0.26%.

Indian shares opened higher on Friday, mirroring firm global cues, after U.S. President Donald Trump promised to unveil a comprehensive tax plan to lower the tax burden on American business and said he wanted to "develop a constructive relationship" with Chinese President Xi Jinping.

The BSE market breadth was slightly tilted in favour of the bulls - with 1,357 advances and 1,332 declines. The National Stock Exchange Nifty closed 0.75 points up or.01% higher at 8,769.

"Major Asian markets ended on a positive note, barring the Jakarta index, while European indices like FTSE 100, CAC 40 and DAX traded higher".

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Over the past four sessions, the index had risen 783.32 points.

In terms of investments, the provisional data with exchanges showed that foreign institutional investors (FIIs) purchased stocks worth Rs 504.51 crore, whereas the domestic institutional investors (DIIs) divested scrip worth Rs 224.76 crore.

IndusInd Bank, Kotak Mahindra Bank, HDFC Bank and Axis Bank also gained between 0.5-1.7 per cent lifting the Nifty Bank index. Lupin, Dr Reddy's Lab, BPCL and ITC were the other prominent losers in the index falling between 1.5-1.7 per cent.

Today, on 30-share benchmark, among top gainers are Adani Ports (2.28%), State Bank of India (1.25%), Tata Steel (1.04%), NTPC (0.95%) and Tata Consultancy Services (0.79%).