Sensex rallies nearly 400 points, Nifty above 10,250-mark

Domestic equities staged a strong comeback today with the BSE Sensex rebounding by nearly 400 points and the Nifty reclaiming the 10,250-mark on receding fears of a US-China trade war.

Investors were also awaiting RBI's monetary policy outcome, scheduled later in the day.

The 30-share Sensex spurted by 393.60 points, or 1.19 percent, to 33,412.67 in opening trade. The gauge had lost 351.56 points in the previous session.

All the sectoral indices, led by metal, realty and auto stocks, were trading in the green with gains of up to 2.26 percent.

The broad-based NSE Nifty went up by 129.05 points, or 1.27 percent, to 10,257.45.

Major gainers that supported the recovery were Tata Motors, Tata Steel, M&M, Adani Ports, Yes Bank, Hero MotoCorp, IndusInd Bank, Axis Bank, SBI, Coal India, L&T, Dr Reddy's, Infosys and Sun Pharma, rising up to 2.68 percent.

A firm trend in other Asian markets and overnight gains on Wall Street buoyed the trading sentiments here.

Brokers said buying by retail investors and fresh foreign fund inflows amid a firm trend in global markets led the markets higher.

Elsewhere in Asia, Japan's Nikkei was up 1.63 percent, while Hong Kong and Shanghai markets were shut today for a public holiday today.

The US Dow Jones Industrial Average ended 0.96 percent higher in yesterday's trade.