Stock markets rebound amid sectoral gains after 2-day decline
After a two-day slump, buoyant activity in banking, metal, and energy drives a notable bounce in the stock markets.
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Hyderabad: The stock markets bounced back today following a two-day decline, driven by increased buying activity in banking, metal, and energy shares. In Mumbai, the BSE Sensex rose by 0.42 per cent, settling at 65,930.77, while the broader Nifty increased by 0.45 per cent to reach 19,783.40. Key gainers included JSW Steel, Titan, Tata Steel, and others, while NTPC, Tech Mahindra, and a few others lagged behind.
Analysts attributed the market's positive momentum to factors such as declining inflation and recent job data in the US, leading to expectations of a dovish stance from the Fed. Additionally, a drop in bond yields and the dollar index suggested a potential peak in the interest rate cycle, drawing attention to emerging markets.
The day saw a mix of performance in Asian and European markets, while the US markets closed positively on Monday with eased bond yields and a weaker dollar. Brent crude oil dropped to $81.82 a barrel, and Foreign Institutional Investors (FIIs) offloaded equities worth Rs 645.72 crore on Monday.
The previous day, the BSE benchmark had declined by 0.21 per cent, settling at 65,655.15, while the Nifty slipped by 0.19 per cent to 19,694.
