Sensex, Nifty turn positive as slump in market appears to bottom out

Published On: 07, Dec 2017 | Source: Timesofindia

NEW DELHI: The equity markets finally seem to have come out of the correction mode as both Sensex and Nifty opened on a positive note on Thursday morning.

30-share BSE Sensex gained 17.87 points to start trading on 32,615.05 while the broader 50-share NSE Nifty opened 19.35 points above previous closing on 10,063.45. Both indices extended their gains as they were gaining around quarter a per cent after the initial fifteen minutes of trading.

The Street has been under pressure since last weak on weak macros and uncertainty on Gujarat elections. Sensex is down more than 1,000 points from last week's levels and investors would be hoping that the losses have finally bottomed out. On Wednesday, the markets extended losses and Sensex closed with a slump of more than 200 points after RBI decided to keep key policy rates intact.

All the sectoral sub-indices started the day in green with PSU bank and metal stocks gaining the most. The mid caps were also outperforming the broader market in initial trading. Tata Steel, Hero MotoCorp, Bharti Airtel and Tech Mahindra took initial lead and Sun Pharma, HCL and Kotak Bank were making losses.

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