The BSE Sensex rallied nearly 300 points in early session Monday on fresh buying in IT, teck and capital goods counters following robust GDP growth rate for the April-June quarter of fiscal and recovery in rupee.


The 30-share index rebounded by 289.28 points, or 0.74 per cent, to quote at 38,934.35.


The benchmark bourse, however, pared some gains within the first hour of the session, and was trading 153.03 points, or 0.40 per cent, higher at 38,798.10 at 1000 hours. The gauge had lost 251.56 points in the past three sessions.


The NSE Nifty also went past 10,700 rising 71.30 points, or 0.61 per cent, to 11,751.80. Official data released after market hours Friday showed India's economy grew at two-year high of 8.2 per cent in the April-June quarter of 2018-19 on strong performance of manufacturing and agriculture sectors, increasing its lead over China to remain the world's fastest growing major economy. The rupee's recovery from its record low against the dollar and fresh buying by domestic institutional investors also fuelled the uptrend in the market, brokers said. -- PTI