Stock markets rebound on gains in index heavyweights, firm global trends

Mumbai: Benchmark equity indices Sensex and Nifty rebounded on Tuesday following buying in index major Tata Consultancy Services, Tata Motors and Sun Pharma amid mostly firm global markets.

The 30-share BSE Sensex climbed 305.09 points or 0.42 per cent to settle at 73,095.22. The index was hit by volatility in the first half of the session but gains in index heavyweights helped the barometer close in the green. During the day, the Sensex jumped 371.17 points or 0.50 per cent to a high of 73,161.30.

The Nifty ended 76.30 points or 0.34 per cent up at 22,198.35.

Among the Sensex firms, Tata Motors, Tata Consultancy Services, IndusInd Bank, Power Grid, Bharti Airtel, Sun Pharma, JSW Steel and Tata Steel were the major gainers.

On the other hand, Bajaj Finance, State Bank of India, Bajaj Finserv, Axis Bank and NTPC were among the laggards.

In Asian markets, Tokyo, Shanghai and Hong Kong settled in the green while Seoul ended lower.

European markets were traded largely in the green. The US markets ended marginally lower on Monday.

The BSE benchmark fell by 352.67 points or 0.48 per cent to settle at 72,790.13 on Monday. The Nifty declined 90.65 points or 0.41 per cent to 22,122.05.

"The hopes for a ceasefire in the Israel-Hamas war and the drop in crude oil prices supported the sentiment," said Vinod Nair, Head of Research, Geojit Financial Services Foreign Institutional Investors (FIIs) offloaded equities worth Rs 285.15 crore on Monday, according to exchange data.

Global oil benchmark Brent crude climbed 0.16 per cent to USD 82.66 a barrel.