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Sensex Edges Higher, Claws Back From Seven-week Low

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Mumbai, Nov 16 (ANI): Indian shares edged higher, rebounding from near seven-week lows hit on Monday(November 16), as stocks were seen as oversold from a recent sell-off rebounded, although sentiment remained jittery after the attacks in Paris by suspected Islamist militants. Asian shares dropped on Monday, weighed down as well after data showed Japan's economy slipped back into recession in the July-September quarter. The attacks in Paris come as Indian shares have fallen for three consecutive weeks on the back of disappointing earnings results and heavy foreign selling. Foreign investors have sold about $380 million in November according to regulatory data. But market experts say that Monday’s market scenario doesn’t mean sentiments are positive. He added the government would have to make crucial decisions such as the Goods and Services Tax (GST) in the winter session of the parliament. The BSE Sensex rose 0.48 percent. It earlier fell as much as 0.62 percent to its lowest level since September 29. The Nifty gained 0.45 percent after falling as much as 0.63 per also its lowest level since September 29. All sectors were trading in the green with the exception of resources and IT stocks.

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