Sensex recovers to reclaim 39K-level, ends higher at 39,110.21 points

Mumbai, May 22 (UNI) The benchmark index of Bombay Stock Exchange (BSE) bounced back on Wednesday by 140.41 points to reclaim the 39K-level and end firm at 39,110.21 on renewed buying in Industrials,

Bankex, Realty, Capital Goods and Finance stocks on expectations that the BJP-led NDA would possibly return to power on Thursday, when the results of the 2019 Lok Sabha election will be declared.

The Nifty of National Stock Exchange (NSE) too increased by 28.80 points to 11,737.90.

The Sensex, which had tanked by 382 points on Tuesday, edged higher today by 117 points to 39,086.21 in early trade and then rallied by 280 points to touch day’s high of 39,249.08 before closing positive at 39,110.21, advancing by 140.41 points versus its last close. The gains in sectoral indices like Industrials, Finance, Bankex, Capital Goods and Realty pushed the market up today, along with scrips of IndusInd Bank, Sun Pharma, Bajaj Auto and Coal India.

While, Technology, Consumer Durables and IT slipped that capped its further gains, brokers informed. The broader markets ended mixed, as the S&P BSE Mid-Cap index shed 0.16 per cent while the Small-Cap rose 0.54 pc.

The market breadth was positive on BSE, as 1,355 shares advanced against 1,161 declined and 191 were unchanged. Overseas, European stocks were trading lower while Asian stocks ended mixed on Wednesday on relief over Washington’s temporary relaxation of curbs against China’s Huawei Technologies.

In US, shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China’s Huawei, alleviating investor concerns about pressure on future corporate results in the sector. The US Commerce Department said late Monday that it would allow Huawei to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until August 19.


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