Sensex jumps more than 200 pts on firm global signals

Mumbai, July 1 () The national benchmark index of BSE Sensex shares recovered more than 200 points on Monday, following positive signals from global equities and easing trade tension between the United States and China.

The index of 30 shares traded at 249.57 points, or 0.63 percent, higher at 39.644.21 at 0930 hours. Similarly, the broader Nifty NSE was trading 71.35 points, or 0.61 percent, to 11,860.20.

In the previous session on Friday, the BSE indicator stood at 191.77 points, or 0.48 percent, lower than 39.394.64, and the Nifty fell 52.70 points, or 0.45 percent, to finish at 11,788.85.

The main winners in the Sensex early trade package included Tata Steel, NTPC, Bajaj Auto, HDFC Bank, Axis Bank, Hero MotoCorp, PowerGrid and Tata Motors, which rose to 1.27 percent.

On the other hand, SBI, Yes Bank, Bharti Airtel, Maruti, HCL Tech, HUL and RIL were among the losers, shedding up to 0.78 percent.

According to traders, domestic investors followed most of the Asian shares that rose amid reports that US President Donald Trump and Chinese President Xi Jinping agreed to restart trade negotiations between the United States and China.

The composite index of Shanghai, Nikkei and Kospi were trading on a positive note, while Hang Seng was trading slightly lower in its first session.

Meanwhile, easing concerns about commercial issues between India and the US UU., Market sentiment also increased here, traders said.

Prime Minister Narendra Modi and Trump, at the G20 meeting on Friday, agreed to an early meeting of their trade ministers to resolve concerns over bilateral trade disputes.

The market is also optimistic amid the expectations of reforms of the next Budget of the Union, they added.

On the currency front, the Indian rupee appreciated 9 paise to 68.93 against the US dollar. Crude oil futures for Brent crude rose 2.33 percent to 66.25 per barrel. ANS ANS