Mumbai : Ignoring caution over below normal monsoon forecast, the benchmark BSE Sensex today rebounded by 214 points to snap its five-day losing run to 27,890.13 on value-buying in bluechip stocks like Sun Pharma.
Sentiment were also buoyed after Finance Minister Arun Jaitley said GST bill will be passed in the current session of Parliament, brokers said.
Reports of below normal monsoon for the second successive year, capped the gains to some extent. Retrospective taxation concerns and corporate earnings worries also weighed on sentiments, they added.
FIIs today met Minister of State for Finance Jayant Sinha and Revenue Secretary Shaktikanta Das on the Rs 40,000-crore tax demand by the government.
“If there is any help that can be given, we will see,” Sinha said. The government, however, refused to relent saying the remedy lies in judicial appeal.
Firming trend in other Asian markets and falling crude prices overseas, after Saudi ended its military action in Yemen have a positive impact, trades said. In volatile movements, the 30-share BSE barometer gained over 151 points in early trade on value-based buying.
