Sensex, Nifty bounce 1% more in late-morning deals

The S&P BSE benchmark Sensex today extended its last Friday's gains on positive global cues triggered by strong US jobs data amid China's decision to cut rates and was quoting higher by another 281 points at 27,386.53 in late-morning deals.

Positive overseas developments boosted the market sentiment. Strong US jobs data pointed to economic growth picking up amid China's move to lower interest rates by 25 bps over the preceding weekend for the third time in six months.

Back home, metal, healthcare, auto, banking, realty, IT, tech, power and capital goods stocks were among the top performers.

The BSE-30 share barometer resumed robust and remained in the positive territory to quote at 27,231.28, a net gain of 280.94 points, or 1.04 per cent, at 1045 hours. Last Friday, it jumped 506.28 points, or 1.90 per cent, after government's move to allay overseas investors' taxation fears.

Similarly, the broader 50-issue CNX Nifty moved in a range of 8,276.15-8,224.65 before trading at 8,276.05 at 1045 hours, a gain of 84.55 points, or 1.03 per cent.

Second-line stocks, too, were in demand on good buying by retail investors after the recent heavy sell-off. Globally, barring Taiwan, which was trading in the negative zone, most other Asian stocks were quoting higher in.

their afternoon deals. Key indices from China, Hong Kong, Japan, Singapore and South Korea were up 0.40 per cent and 1.18 per cent.

The US Dow Jones Industrial Average ended 1.49 per cent higher on Friday while the tech-heavy Nasdaq Composite index grew 1.17 per cent.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)