Sensex, Nifty rebound in early trade; bank, IT stocks take charge

Mumbai, October 16 dmanewsdesk:  Equity benchmark BSE Sensex rebounded 320.33 points to trade at 40,048.74 in opening deals on Friday, led by intense buying mainly in banking and IT counters.

Likewise, the broader NSE Nifty surged 86.75 points or 0.74 per cent to 11,767.10 in early trade.

On the Sensex chart, IndusInd Bank, Tata Steel, Infosys, ONGC, Kotak Bank, NTPC and Bharti Airtel were among prominent gainers.

Of the 30 Sensex constituents, 27 were trading in the green.

Asian shares were trading on a mixed note amid growing fears about resurgence of coronavirus cases in some countries.

On Thursday, the Sensex had plummeted by 1,066.33 points or 2.61 per cent to end at 39,728.41. The broader NSE Nifty had crashed 290.70 points or 2.43 per cent to 11,680.35.

Foreign institutional investors turned net sellers in the capital market as they offloaded shares worth Rs 604.07 crore on Thursday, exchange data showed.

Source: PTI