Sensex Rebounds 315 Points, Nifty Gains 77 as Value Buying Lifts Markets

Benchmark stock indices Sensex and Nifty rebounded on Friday after the previous session’s sharp losses, helped by value buying in blue-chip banking, auto and other shares. The 30-share BSE Sensex rose 315.20 points, or 0.43 per cent, to settle at 73,895.74, while the 50-share NSE Nifty gained 77.40 points, or 0.34 per cent, to close at 23,140.50.

The Sensex moved between a high of 73,968.05 and a low of 73,477.77 during the session. Nineteen of its constituents closed higher and 11 declined. On the Nifty, 34 stocks advanced, 15 fell and one remained unchanged.

Among Sensex companies, Axis Bank was the top gainer, rising 2.82 per cent. Mahindra & Mahindra advanced 2.24 per cent, Asian Paints 1.93 per cent, Bajaj Finance 1.21 per cent, HCL Technologies 1.17 per cent and Titan 1.01 per cent. Trent was the biggest loser, declining 1.41 per cent. Infosys, Kotak Mahindra Bank, ICICI Bank and Tata Steel also ended lower.

Among sectoral indices, Consumer Durables gained 1.14 per cent and Auto rose 0.95 per cent. Realty, Power, Industrials and Utilities also closed higher. Hospitals, Telecommunications, Oil & Gas and Housing Finance were among the laggards.

Brent crude, the global oil benchmark, declined 1.10 per cent to USD 105.4 a barrel. Market participants also continued to track global yields, crude prices and foreign selling. Foreign Institutional Investors sold equities worth Rs 5,027.36 crore on Thursday, according to exchange data.

The broader market was mixed, with the BSE SmallCap Select index rising 0.11 per cent and MidCap Select declining 0.62 per cent. Asian markets were mixed, with Japan’s Nikkei 225 ending higher and Hong Kong’s Hang Seng lower. China and South Korea were closed for a holiday, while European markets traded higher.

On a weekly basis, the Sensex fell 399.22 points, or 0.53 per cent, and the Nifty declined 205.9 points, or 0.88 per cent. On Thursday, the Sensex had sharply dropped 1,247.71 points and the Nifty 383.70 points during Thursday’s session.