Sensex up 67 points in early trade on positive infra data

Tuesday, Aug 2, 2016,10:39 IST By metrovaartha A A A

Mumbai | The BSE Sensex recovered by almost 67 points in early trade Tuesday on fresh buying by investors and foreign funds buoyed by a pickup in infrastructure sector in June coupled with rising hopes of GST Bill passage this week.

The 30-share index rose 66.94 points or 0.23 per cent to 28,070.06 with all the sectoral indices led by FMCG, capital goods, auto, healthcare and banking, advancing by up to 1.11 per cent.

The gauge had lost 205.48 points in the previous two sessions. The NSE Nifty also moved up by 11.80 points or 0.13 per cent to 8,648.35.

Sentiment got a lift after infrastructure sector grew at 5.2 per cent in June, fastest in two months, on the back of double digit growth in coal and cement sectors.

Brokers said a stronger possibility of passage of the long-pending GST Bill and sustained foreign fund inflows, influenced sentiments here.

Meanwhile, the government yesterday listed the GST bill for consideration and passage in Rajya Sabha on Wednesday amidst strong indications that the most far-reaching taxation reform in independent India would be supported by Congress and all other major political parties.

At other Asian markets, Japan’s Nikkei was quoting lower by 0.68 per cent, while financial markets in Hong Kong are closed Tuesday due to a typhoon.

Shanghai Composite index shed 0.04 points in early trade Tuesday. The US Dow Jones Industrial Average ended 0.15 per cent down in yesterday’s trade.