Sensex, Nifty rebound nearly 1 pc on value buying, global rally
MUMBAI, June 16: Benchmark stock indices Sensex and Nifty rebounded by nearly 1 per cent on Monday following value buying in IT and oil shares and a rally in global shares amid a drop in Brent crude oil prices.
The 30-share BSE Sensex jumped 677.55 points or 0.84 per cent to settle at 81,796.15. During the day, it surged 747.22 points or 0.92 per cent to 81,865.82.
The 50-share NSE Nifty climbed 227.90 points or 0.92 per cent to 24,946.50.
Among 30 Sensex firms, UltraTech Cement, Tech Mahindra, HCL Tech, Tata Consultancy Services, Eternal, Asian Paints, Tata Steel and Kotak Mahindra Bank were among the biggest gainers.
Tata Motors, Adani Ports and Sun Pharma were the laggards.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled in the positive territory. European markets were quoting in the green.
US markets ended lower on Friday.
Global oil benchmark Brent crude declined 0.81 per cent to USD 73.63 a barrel.
Wholesale price inflation (WPI) declined to a 14-month low of 0.39 per cent in May on easing prices of food articles and fuel.
“Despite mounting global uncertainty triggered by escalating tensions in the Middle East, Indian markets remained resilient,” Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity – Ashika Stock Broking part of Ashika Group, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,263.52 crore on Friday, according to exchange data.
On Friday, the 30-share BSE Sensex dived 573.38 points or 0.70 per cent to settle at 81,118.60. The Nifty dropped 169.60 points or 0.68 per cent to 24,718.60.
In the past two days, the BSE benchmark has lost 1,396.54 points or 1.69 per cent, and the Nifty dropped 422.8 points or 1.68 per cent. (PTI)
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