Stock markets rebound on positive trend in Asian, European equities; buying in Reliance


MUMBAI: Benchmark fairness indices Sensex and Nifty rebounded from early lows to settle larger on Wednesday following buying in Reliance Industries, Larsen & Toubro and ITC and positive tendencies in Asian and European markets.
The 30-share BSE Sensex rose by 173.22 factors or 0.26 per cent to settle at 66,118.69. The index opened decrease and fell additional to a low of 65,549.96 in morning commerce. However, buying in Reliance, L&T, Infosys and Maruti helped it get well losses. Later it jumped 226.8 factors or 0.34 per cent to a excessive of 66,172.27.
The Nifty gained 51.75 factors or 0.26 per cent to finish at 19,716.45. It moved between a low of 19,554 and a excessive of 19,730.70 in day buying and selling.
Among the Sensex corporations, Larsen & Toubro, ITC, Sun Pharma, Maruti, Reliance Industries, Axis Bank, IndusInd Bank and Hindustan Unilever had been among the many gainers.
Titan, State Bank of India, ICICI Bank, HDFC Bank, Tata Steel and Nestle had been the foremost laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the inexperienced. European markets had been buying and selling largely in positive territory. The US markets ended decrease on Tuesday.
Global oil benchmark Brent crude climbed 0.98 per cent to USD 94.88 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities value Rs 693.47 crore on Tuesday, in keeping with alternate information.
“The market inched higher in the second half, driven by positive openings in European markets. Concerns about global interest rates and elevated oil prices are being balanced by several domestic factors, such as promising economic growth prospects and the potential for strong earnings, which validate the premium valuation,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.
Persistent outflows of overseas funds and rising US bond yields are anticipated to maintain the broader indices in bleak terrain, in the close to time period, Nair added.
The BSE benchmark fell 78.22 factors or 0.12 per cent to settle at 65,945.47 on Tuesday. The broader Nifty dipped 9.85 factors or 0.05 per cent to finish at 19,664.70.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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