Sensex bounces back 52 points in late morning deals

The BSE Sensex recovered from early opening losses to trade higher by 52.34 points in late morning deals as the Rupee recovered by 24 paise against Dollar from its earlier lows amid active trade activities despite lower Asian cues. Positive trends in telecom, consumer durables, FMCG, auto, energy, metal and realty stocks lifted the key indices. Banks, power and finance shares witnessed mild selling.

The 30-share index was shone at 38,295.15, a gain of 52.34 points, or 0.14 per cent, at 11 am. The broader Nifty-50 index was also surging at 11,556.90, up 20.00  points, or 0.17 per cent.

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Major Gainers: Bajaj Auto 3 per cent, Hero Motocorp 2.18 per cent, Tata Motors DVR 1.80 per cent, Tata Motors 1.72 per cent and Wipro 1.56 per cent.

Major Losers: Sun Pharma 4.10 per cent, Yes Bank 3.14 per cent, SBIN 1.92 per cent and Power Grid 1.66 per cent.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 455.00 crore on net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 611.98 crore yesterday, provisional data showed.

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Overseas Markets: Most Asian markets were trading lower amid ongoing concerns about global trade and emerging markets. US stocks fell on Thursday amid renewed selling in technology shares as the Trump administration eyed escalating the trade war.

(With inputs from agencies)