Mumbai: Markets cheered the government's move to waive MAT on capital gains made by FIIs retrospectively with the benchmark BSE Sensex gaining 242 points in opening trade on buying by funds and retail investors.
The 30-share index rose by 242.93 points, or 0.94 percent, to 25,939.37 points in early trade with all sectoral indices led by realty, consumer durables and capital goods trading in positive zone with gains up to 2.20 percent.
The barometer had lost 695.94 points in the previous two sessions.
The wide-based Nifty of the National Stock Exchange regained the 7,800-mark by surging 76.70 points, or 0.98 percent to 7,862.55.
Markets recovered from yesterday's sharp losses after government decided to that MAT should not be imposed on overseas portfolio investors retrospectively, brokers said.
Major gainers were ITC Ltd (1.30 percent), Sun Pharma (0.81 percent), Axis Bank (0.80 percent), Lupin (0.;74 percent), TCS (0.64 percent), RIL (0.61 percent), Infosys (0.58 percent), Wipro (0.21 percent), HDFC Ltd (0.19 percent) and Hindalco (0.07 percent).
Among Asian markets, Japan's Nikkei rose 0.79 percent, while Hong Kong's Hang Seng fell by 0.99 percent. Shanghai Composite was trading 1.34 percent lower in early trade.
The US Dow Jones Industrial Average tumbled 2.84 percent in yesterday's trade.
PTI
First Published: Wednesday, September 2, 2015, 10:40