Sensex rebounds 93 points on the back of RIL, ITC stocks

Mumbai: The benchmark BSE Sensex rebounded by over 93 points in early trade on Wednesday on gains in blue chips such as RIL, L&T and ITC, amid a rising trend in Asia.

The 30-share index was trading higher by 93.02 points, or 0.28 per cent, at 32,495.39.

Sectoral indices led by capital goods, power,consumer durables, realty, metal, healthcare and oil & gas were trading in the positive terrain by gaining up to 0.95 per cent.

The gauge had shed 21.39 points in the previous session.

The broader NSE Nifty rose by 23.50 points, or 0.23 per cent, to trade at 10,171.05.

According to traders, buying activity picked up, mirroring positive cues from the rest of Asia after another record on the Wall Street yesterday.

Reliance Industries, L&T, Tata Steel, Adani Ports, M&M, ITC Ltd, SBI, HDFC Bank, Sun Pharma, Dr Reddy's and ONGC gained up to 2.26 per cent.

However, shares of telecom companies such as Bharti Airtel, Idea Cellular and Tata Teleservices fell up to 3.31 per cent after Trai reduced mobile interconnection charges by more than half to 6 paise a minute.

Mobile companies currently charge 14 paise a minute for allowing a domestic call from a rival operator to terminate on their network. There would be no such charge from January 1, 2020, Trai said.

Japan's Nikkei was up 0.18 per cent while Hong Kong's Hang Seng rose 0.24 per cent in early trade today. China's Shanghai Composite was too up by 0.22 per cent.

The US Dow Jones Industrial Average ended 0.18 per cent higher on Tuesday.