Sensex surges 173 points on global cues

Mumbai: Market benchmark Sensex rebounded byover 173 points to finish at 26,899.56 today as domestic investors heavily bought into recently battered metal, auto and oil and gas stocks amid a higher opening of the European markets.

Domestic Institutional Investors (DIIs) were net buyers as they bought shares worth Rs 96.82 crore, while Foreign Portfolio Investment (FPIs) offloaded shares amounting to Rs 325.10 crore, provisional data showed.

However, concerns prevailed ahead of earnigns season and macroeconomic data, to be released later this week. Furthermore, rupee recovering against the dollar to 67.99 (intra-day) also influenced sentiment.

The BSE benchmark Sensex opened higher at 26,811.63 and hovered in a range of 26,914.95 to 26,804.17 before finishing at 26,899.56, showing a gain of 173.01 points or 0.65 per cent.