The Bombay Stock Exchange benchmark Sensex started on a positive note Wednesday by recovering over 99 points in early trade as the revised forecast of better monsoon enthused investors. The investors are now awaiting the Reserve Bank of India’s bimonthly policy meet outcome, which is due later in the day.
On Tuesday, the Meteorological department had revised its initial monsoon forecast to be better than it was earlier expected.
The 30-share index, which had lost 118.93 points in the previous session, recovered by 99.42 points (i.e. 0.31%) to 31,289.98. All sectoral indices, led by the metal, auto, realty and bank stocks, led the recovery and rose to 0.88 per cent.
The NSE Nifty also went up by 29.25 points (i.e. 0.30%) to 9,666.40.
Brokers said investors were seen holding their bets as they awaited the outcome of RBI’s bimonthly Monetary Policy Committee meet. Besides, a mixed trend at other Asian bourses influenced the trading sentiment in the domestic market.
Shares of GAIL, Bharti Airtel, ICICI Bank, SBI, Hero Motocorp, M&M, Bajaj Auto and Tata Steel were trading in the positive zone with gains of up to 0.93%.
Among other Asian markets, Shanghai Composite Index rose 0.64% and Hong Kong’s Hang Seng edged up to 0.06%.
Japan’s Nikkei was down 0.32%.
The US Dow Jones Industrial Average ended 0.23% lower in Tuesday’s trade.
