Day after bloodbath in stock markets, sensex opens in green, up 300 points

The Indian markets bounced back on the opening bell on Wednesday, beginning the day in the green over positive global cues. The BSE Sensex opened over 300 points higher while the NSE Nifty opened over 100 points up.

At 9:17 am, Sensex up by 238.41 points, currently at 34,434.35; Nifty up by 89.50 points, currently at 10,587.75.

Meanwhile, rupee opens higher at 64.12 per dollar on Wednesday versus 64.24 Tuesday.

Earlier on Tuesday, Sensex closed 561 points lower at 34,195, staging a big recovery after plunging nearly 1,275 points during the session. The NSE benchmark index - Nifty - settled 168 points lower at 10,498. The Nifty had plunged to an intraday low of 10,276 on Tuesday.

The pullback in Indian markets tracked recovery in Dow futures, which moved into positive territory reversing steep losses, indicating the Wall Street was likely to open higher later in the day.

The rupee also pared losses after falling to 64.39 at day's low. In recent trade, the rupee was at 64.18 against the US dollar vs its Monday's close of 64.06.

The markets had been in the red since February 1, when Finance Minister Arun Jaitley presented Budget 2018. Jaitley proposed to tax long-term capital gains on equities exceeding Rs 1 lakh at 10 per cent.

OneIndia News