Indian Stock Market Bounces Back as Sensex and Nifty Rebound in Early Trade
Mumbai: Equity benchmark indices Sensex and Nifty made a recovery in early trade on Tuesday, following a two-day downtrend. The rebound was driven by value-buying at lower levels, alongside a rally in blue-chip stocks such as Infosys and HDFC Bank.
The BSE benchmark Sensex rose by 193.17 points, or 0.24%, to 81,701.63, while the broader NSE Nifty climbed 47.40 points, or 0.19%, to 24,666.40.
Among the top gainers from the 30-share Sensex pack were Bajaj Finserv, Tata Motors, Infosys, Bajaj Finance, HCL Technologies, Titan, and Kotak Mahindra Bank. On the other hand, Mahindra & Mahindra, Bharti Airtel, Tech Mahindra, UltraTech Cement, Reliance Industries, and Maruti were among the stocks that lagged.
Asian markets also saw positive movement, with Seoul, Tokyo, Hong Kong, and Shanghai all trading higher. This uptick was spurred by signals from China’s top leaders, who indicated stronger stimulus measures next year to revive the country’s economy.
“The advancement in Asian equities is largely attributed to China’s commitment to implement bolder economic stimulus,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Meanwhile, the US markets ended lower in overnight deals on Monday. Global oil benchmark Brent crude prices saw a slight dip of 0.29%, settling at USD 71.93 a barrel.
In terms of market activity, Foreign Institutional Investors (FIIs) bought equities worth Rs 724.27 crore on Monday, while Domestic Institutional Investors (DIIs) offloaded shares worth Rs 1,648.07 crore, as per exchange data.
On Monday, the Sensex closed 200.66 points lower at 81,508.46, while the Nifty fell by 58.80 points to settle at 24,619.
