Sensex recovers by 97. 39 pts 
Business

Sensex recovers by 97. 39 pts 

Mumbai, Oct 8: The BSE Sensex bounced back on Monday by 97.39 points to end the volatile session at 34,474.38, reversing the losing streak of past three days, on fresh buying in Oil & Gas, Bankex, Auto, and Energy counters.

The Nifty of National Stock Exchange (NSE) also advanced by 31.60 points to 10,348.05. The Sensex and Nifty opened lower in the morning tracking weaker cues from Asian peers, however, value buying lifted the key indices for a brief period during mid-morning trade.

The Sensex touched the day's high at 34,636.43 on the back of sustained buying by domestic institutional investors (DIIs), but later the session was marred by heavy selling pulling the benchmark index down to the day's low of 33,974.66 in a choppy trade. It, however, recovered slightly in late trade to close firm at 34,474.38, up by 97.39 points as compared to its previous trade.

The Nifty registered day's high and low at 10,398.35 and 10,198.40 points, respectively. The broader markets declined today, as the BSE Mid-Cap index and the Small-Cap fell by 1.99 per cent and 2.01 pc, respectively. Both these indices underperformed the Sensex.

The market breadth was weaker on BSE, as 734 shares advanced against 1,910 declined and 197 were unchanged. Globally, the Asia stocks slumped Monday as China’s markets stumbled in their first trading day after a one-week holiday even though Beijing’s central bank increased liquidity to offset the impact of an escalating trade dispute with the United States.

MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.3 per cent. Nikkei-225 index declined by 0.80 pc to 23,783.72 in early trade.

Australian shares ended down 1 per cent. Markets in Japan were closed for a holiday. European markets, too, fell heavily as investor confidence took a knock from last week’s spike in Treasury yields and from the Chinese market slump.

Pan-European index fell 0.7 per cent and Germany's DAX was trading lower by 0.8 per cent. The MSCI world equity index, which tracks shares in 47 countries, fell 0.34 per cent.