Mumbai: Equity benchmark indices Sensex and Nifty bounced back after rebounding from a seven-session losing streak downtrend on value-buying at lower levels along with buying in blue-chip stocks Reliance Industries and Tata Consultancy Services. Firm global trends and continuous buying by domestic institutional investors also added to the market's rebound.
The BSE benchmark Sensex jumped 997.35 points to 78,336.36 while The NSE Nifty surged by 290.55 points to 23,744.35. From the 30-share Sensex pack, Mahindra & Mahindra, Adani Ports, Tata Motors, Infosys, Tata Consultancy Services, UltraTech Cement, Tech Mahindra and Reliance Industries were the biggest gainers.
Bajaj Finserv and Kotak Mahindra Bank were the laggards. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,403.40 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 2,330.56 crore, according to exchange data. In Asian markets, Seoul, Tokyo and Hong Kong were trading higher while Shanghai quoted lower.
The US markets ended mostly higher on Monday. Global oil benchmark Brent crude climbed 0,26 per cent to USD 73.49 a barrel. The 30-share BSE benchmark dropped 241.30 points or 0.31 per cent to settle at 77,339.01, registering its fourth day of decline on Monday. Falling for the seventh day in a row, the Nifty dipped 78.90 points or 0.34 per cent to 23,453.80.
