Sensex jumps over 200 points, Nifty regains 11,300

New Delhi: Markets rebounded in opening trade Friday on value-buying in select bluechip stocks amid a firm trend in the global market on easing trade war concerns.

The 30-share BSE index recovered by over 200 points while the NSE Nifty regained 11,300 level in opening trade. Markets were shut on account of Muharram on Thursday.

In late morning trade the Sensex jumped 280.46 points or 0.76 percent, to 37,401.68. The NSE Nifty went past 11,300 to trade at 11,318.85, gaining 84.50, or 0.75 percent.

The Sensex had lost 969.42 points in the previous three sessions.

Axis bank, ICICI bank, Tata steel, M&M, SBI, Asian paint, RIL, ITC, Tata Motors, Coal India, ONGC and HDFC, gaining by upto 3.41 percent.

While, Yes Bank was the top the losers in the Sensex pack by plunging over 19 percent after the RBI asked its managing director and CEO Rana Kapoor to step down after an extended term till January 31, 2019.

Meanwhile, domestic institutional investors (DIIs) made purchases worth a net of Rs 1,201.30 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 2,184.55 crore Wednesday, provisional data showed.

MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.6 percent. It has rebounded 4 percent from a 14-month low on Sept. 12, buoyed in part by expectations that China will pump more stimulus into its economy to weather the trade war. Japan`s Nikkei rose 0.6 percent, hitting an eight-month high, Reuters reported.

With Agency Inputs