The BSE benchmark Sensex snapped its 3-day losing streak by recovering 23 points to close at 30,857.32 on short-covering from operators on June series F&O expiry coupled with caution ahead of GST rollout.
The gauge, after a strong opening, quickly reclaimed the 31,000-mark to hit a high of 31,097.92 as investors cheered the Cabinet's decision to okay disinvestment of the loss making Air India -an indication that the Government will stay on course of reforms. The Sensex had lost 456.42 points in three straight sessions.
The 50-share Nifty opened higher onThursday, at 9,522.95, and traded in the range of 9,493.80-9,575.80, before closing at 9,504.10, up 12.85 points, or 0.14 per cent, from yesterday’s close. Markets regulator Sebi's proposal to relax entry norms for foreign portfolio investors (FPIs) willing to invest directly in Indian stock markets also went down well with investors. However, offloading of positions following expiry of June series in the derivatives segment led the index to a low of 30,794.61, before it finally ended 23.20 points, or 0.08 per cent higher, at 30,857.52.
