Sensex scales to 33-month high on FIIs inflow

Sensex scales to 33-month high on FIIs inflow

Erasing yesterday's losses, BSE benchmark Sensex on Wednesday rebounded by 135 points to a fresh 33-month high, driven by hectic buying by FIIs and retail investors on hopes of strong corporate earnings.

Led by heavy buying in realty and metal shares, the Bombay Stock Exchange's 30-share index settled at 20,543.08, up by 135.37 points, or 0.66 per cent.

Marketmen attributed the rise in broader markets to expectations of strong results from corporates for the quarter ended on 30^th September.

In addition, increased FII inflows and a firming trend overseas also boosted the sentiment.

The barometer, which had shed over 68 points in the last trading session, on Wednesday opened on a firm note and touched a fresh 33-month high of 20,669.95.

The wide-based Nifty-50 Index of the National Stock Exchange, too, ended 0.66 per cent higher at 6,186.45.

Out of the 30 Sensex shares, 20 closed in the positive terrain, while the remaining ended on a weak note.

Meanwhile, Hong Kong's Hang Seng Index was up by 1.35 percent, while Japan's Nikkei rose by 1.29 percent in early trade on Wednesday.

The US Dow Jones Industrial Average ended 1.80 percent higher in the previous session.