Sensex rebounds 454 pts on buying in IT shares, foreign fund inflows

Market rebounds as IT shares surge and foreign funds flow
Bombay stock Exchange
Bombay stock Exchange

Mumbai | Benchmark indices Sensex and Nifty rebounded nearly 1 per cent on Tuesday following buying in IT giants TCS and Infosys and fresh foreign fund inflows.

After a firm beginning, the 30-share BSE Sensex climbed 454.67 points or 0.63 per cent to settle at 72,186.09. During the day, it jumped 529.98 points or 0.73 per cent to 72,261.40.

The Nifty went up by 157.70 points or 0.72 per cent to 21,929.40.

Among the Sensex firms, HCL Technologies, Tata Consultancy Services, Maruti, Wipro, Larsen & Toubro, Infosys, Tata Steel, Bharti Airtel, State Bank of India, Tech Mahindra, UltraTech Cement and Mahindra & Mahindra were the major gainers.

Bharti Airtel climbed over 2 per cent after the company on Monday posted a 54 per cent jump in consolidated net profit to Rs 2,442.2 crore for the December quarter, mainly on account of growth in high-value customers.

Power Grid, IndusInd Bank, ITC, Kotak Mahindra Bank, Bajaj Finserv and Axis Bank were among the laggards.

In Asian markets, Shanghai and Hong Kong settled with smart gains while Seoul and Tokyo ended in the negative territory.

European markets were trading mostly in the green. The US markets ended lower on Monday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 518.88 crore on Monday, according to exchange data.

The BSE benchmark declined by 354.21 points or 0.49 per cent to settle at 71,731.42 on Monday. The Nifty fell by 82.10 points or 0.38 per cent to close at 21,771.70.

Global oil benchmark Brent crude dipped 0.09 per cent to USD 77.92 a barrel

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