Sensex, Nifty end six-day fall as banking, auto shares advance
The Hindu
BSE Sensex rebounded by 180.22 points or 0.34% to settle at 52,973.84 points in a see-saw trade
Benchmark indices Sensex and Nifty ended their six-day losing run on Monday on the back of buying in banking, auto and power stocks amid mixed trends in global equities.
The 30-share BSE Sensex rebounded by 180.22 points or 0.34% to settle at 52,973.84 points in a see-saw trade.
The index opened higher and soared over 634 points to a day’s high of 53,428.28 in the first half of the trade. However, profit booking in IT and select heavyweight counters capped the gains dragging the index down by around 800 points to a low of 52,632.48 points.
The broader NSE Nifty went up by 60.15 points or 0.38% to finish at 15,842.30, logging its first gain in seven sessions. Sensex and Nifty tanked over 5% in the previous six sessions due to heavy selling by FPIs over inflation concerns.
“Autos & banks helped benchmark indices stay in the green as rising inflation and its impact on discretionary spending kept investors worried. The broader markets witnessed keen interest in companies likely to post good numbers during the first quarter of the current fiscal,” S. Ranganathan, head of research at LKP securities said.
Ajit Mishra, vp-research, Religare Broking Ltd. said since markets are closely following global cues, the rebound in the U.S. market is giving hope for some respite on the domestic front as well.
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