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Sensex rebounds by 164 points

Mumbai, May 16 (PTI) In a volatile market, the S&P BSE benchmark sensex ended higher by 164 points to 25,653.23 on fag-end buying mainly in FMCG, Realty, Metal, IT counters on the back of higher Asian cues coupled with good foreign captial inflows. Volatility ruled the roost in mid-afternoon trade as the key benchmark indices regained positive zone as shares of index heavyweights ITC rose by 3.13 pct and HDFC Bank 2.01 pct. Foreign Portfolio Investors and Foreign Insitutional Investors bought shares worth net Rs 1,493.88 crs on last Friday as per the provisional data issued by stock exchanges. Meanwhile, Wholesale price-based inflation turned positive after 17 months, posting an annual gain of 0.34 per cent in April, on rise in vegetables and pulses prices. The sensex resumed higher at 25,528.80 and hovered in a wide range of 25,688.46 and 25,351.62 before concluding at 25,653.23, showing a gain of 163.66 points or 0.64 per cent. The NSE 50-share Nifty also rose by 45.85 points or 0.59 per cent to 7,860.75, In overseas markets, Most Asian stocks rose, shrugging off soft Chinese data released over the weekend. China's investment, factory output and retail sales all grew more slowly than expected in April, adding to doubts about whether the world's second-largest economy is stabilizing, data released on Saturday showed. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan closed by higher 0.04 pct to 0.84 pct. European markets were trading lower in their afternoon trade. Key indices in France and UK fell by 0.23 pct to 0.79 per cent. India's weather department, the India Meteorological Department (IMD) on Sunday said that the statistical model forecast suggests that the monsoon onset over Kerala is likely to be slightly delayed. (MORE) PTI RSU RD RSU GSV