Sensex surges 265 points; Nifty reclaims 8,600-level

Mumbai: After negative opening, the benchmark BSE Sensex bounced back smartly by 264.57 points and Nifty reclaimed 8,600-level on bouts of value buying in most sectors led by banking, auto, consumer durables, metal, power and FMCG in late morning deals.

Positive macro-outlook overlapped the market sentiment and Delhi election results where the Aam Aadmi Party was heading towards a landslide victory in Delhi Assembly polls, a broker said.

Shares from Midcap and SmallCap companies also supported the market gain.

Meanwhile, foreign portfolio investors sold shares worth a net Rs 660.30 crore yesterday, as per provisional data.

The Sensex opened at 28,122.48 and drifted to 28,044.49 before rebounding to a high of 28,522.71, quoting 28,491.96 at 1040hrs.

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