Sensex, Nifty bounce back on fag-end buying; settle with gains

Mumbai: Benchmark equity indices Sensex and Nifty staged a dramatic rebound on Monday to settle higher following buying in HDFC Bank, ICICI Bank, and Tata Consultancy Services. Recovering from early lows, the 30-share BSE Sensex closed higher by 111.66 points or 0.15 percent at 72,776.13. The index opened lower and plummetted further 798.46 points or 1.09 percent to hit a low of 71,866.01 in day trade. The NSE Nifty rose by 48.85 points or 0.22 percent to 22,104.05. The 50-issue rebounded from a low of 21,821.05. From the Sensex basket, Asian Paints, Sun Pharma, HDFC Bank, Tata Consultancy Services, Axis Bank, Tata Steel, JSW Steel, Larsen & Toubro, ICICI Bank and Power Grid were the major gainers. Tata Motors dropped over 8 percent despite reporting over three-fold jump in consolidated net profit at Rs 17,528.59 crore for the fourth quarter ended March 31, 2024.

NTPC, Bharti Airtel, Titan, State Bank of India, and Nestle were the other major laggards. In Asian markets, Seoul, Tokyo, and Shanghai settled lower while Hong Kong ended in the positive territory. European markets were trading mostly lower. Wall Street ended mostly higher on Friday. Foreign institutional investors (FIIs) offloaded equities worth Rs 2,117.50 crore on Friday, according to exchange data. Global oil benchmark Brent crude climbed 0.28 percent to $ 83.02 a barrel. The BSE benchmark climbed 260.30 points or 0.36 percent to settle at 72,664.47 on Friday. The NSE Nifty climbed 97.70 points or 0.44 percent to 22,055.20.