Sensex bounces back by 203.07 pts

Mumbai: The benchmark index of the Bombay Stock Exchange (BSE) today bounced back by 203.07 points to 18,370.71 in the opening session on heavy buying from local operators and strong global cues.The Nifty of National Stock Exchange (NSE) also moved up by 55.75 pts to 5,505.40.
Sliding by 271 pts yesterday, the market rebounded on the strength of Realty, Bankex, Power and Consumer Goods sectors.
The BSE benchmark Sensex opened over 200 points up today on bargain buying, triggered by firm trend on other Asian bourses after yesterday’s losses.
The sensex registered the intra day high and low at 18,400.55 and 18,263.68 points respectively.
The Nifty recorded the intra day high and low at 5517.60 and 5475.95 respectively.
Meanwhile, Japan’s Nikkei index was trading 4.43 per cent higher but Hong Kong’s Hang Seng Index was down by 0.27 per cent in early trade today. Sydney gained 0.70 percent, Shanghai was 0.39 percent higher, Seoul rose 1.10 percent and Taipei added 1.12 percent.
Metal sector stocks were back in demand, due to recovery in base metals at the London Metal Exchange, brokers said.
Reliance Infra was the major gainer, up by 4.14 per cent. Others up were ICICI Bank, Sterlite Indusreis, DLF, Mahindra and Mahindra, Jaiprakash Asso, State Bank of India and Reliance Comm.
The sectoral indices that advanced were ICICI Bank by 2.14 per cent, Sterlite Industries by 2.12 per cent, DLF by 1.88 per cent, M & M by 1.85 per cent SBI by 1.65 per cent and Rel Com by 1.54 per cent.
However, Hind Unilever and Hero Honda were slightly down by 0.97 and 0.12 per cent respectively.
The overall market breadth remained positive as 1740 stock advnnced, while 537 stock declined.