Sensex Rebounds; Up 116 Pts as Power Stocks Rise
By PTI
Mumbai: The BSE benchmark Sensex recovered by over 116 points in early trade on September 25 as power sector stocks surged on fresh buying by funds and retailers after the government cleared proposal to restructure debt worth nearly Rs.2 lakh crore for state electricity boards.
The 30-share barometer, which lost 79.49 points on September 24, rose by 116.67 points, or 0.62 percent, to 18,790.01.
Similarly, the wide-based National Stock Exchange index Nifty moved up by 33.10 points, or 0.58 percent, to 5,702.70.
Brokers said sentiment buoyed after the government approved restructuring of Rs.1.9 lakh crore debt of State Electricity Boards in a move to turnaround the near-bankrupt power distribution companies.
In the power sector, stocks of Tata Power rose by 2.03 percent, Reliance Power added 2.55 percent, NTPC gained 1.44 percent and Adani Power rose by 5.14 percent.
Meanwhile, in Asian region, Japan's Nikkei was up by 0.21 percent, while Hong Kong's Hang Seng index shed 0.20 percent.
The US Dow Jones Industrial Average ended 0.15 percent lower in September 24 trade.
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