Sensex rises to one-week high after FIIs turn buyers

The BSE Sensex gains 0.61 percent, while the Nifty is up 0.56 percent, marking their highest in a week.

Foreign investors bought 107.5 million rupees worth of Indian shares on Thursday to snap their five-day selling streak totalling $542 million in secondary markets, provisional exchange and regulatory data shows.

Among shares of blue chips, Infosys Ltd (INFY.NS) is up 0.8 percent, while Sun Pharmaceutical Industries Ltd (SUN.NS) rises 2.4 percent.

Analysts say that with the Nifty taking support at its 200 day moving average, any follow-up buying by foreign institutional investors (FIIs) will help reverse the short-term trend which had turned down.

Source: Business News India

From Reuters News