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Sensex Bounces 130 Points, Banking Shares Jump

Expectations built up that Friday's meeting of the GST Council may provide some relief to exporters and SMEs in terms of faster refunds and compliance.

PTI

Updated:October 6, 2017, 10:23 AM IST
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Sensex Bounces 130 Points, Banking Shares Jump
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Mumbai: The benchmark Sensex surged over 130 points in the opening session on Friday, shaking off its earlier weakness, as oil and banking shares took spotlight.

The broader NSE Nifty regained the 9,900-mark.

Expectations built up that Friday's meeting of the GST Council may provide some relief to exporters and SMEs in terms of faster refunds and compliance.

The 30-share index rebounded by 130.10 points, or 0.41 per cent, to 31,722.13. The gauge had lost 79.68 points in the previous session after investors shaved off profit.

Reflecting the widespread recovery, all the sectoral indices led by consumer durables, metal and oil and gas were trading in the green, adding up to 1.01 per cent.

The NSE Nifty also moved up by 40.80 points, or 0.41 per cent, to quote at 9,929.50.

Traders said gains at most Asian markets tracking rallies on Wall Street following more buoyant US data and hopes of tax reforms bolstered trading sentiment here.

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