Mumbai: Benchmark indices rebounded in early trade on Tuesday after a sharp seven-day decline, led by buying in banking stocks.
The BSE Sensex rose 312.88 points to 80,677.82, while the NSE Nifty gained 96.9 points to 24,731.80 in early trade.
Among Sensex constituents, Power Grid, Asian Paints, Bajaj Finance, Bharat Electronics, Titan, HDFC Bank, HCL Tech, UltraTech Cement, State Bank of India, and ICICI Bank were the top gainers. On the other hand, Reliance Industries, ITC, Larsen & Toubro, and Trent lagged.
Over the past seven sessions, the Sensex has fallen 2,649.02 points (3.19%), and the Nifty has dropped 788.7 points (3.10%).
In Asia, Shanghai’s SSE Composite traded higher, while South Korea’s Kospi, Japan’s Nikkei 225, and Hong Kong’s Hang Seng were lower. U.S. markets ended higher on Monday.
On the domestic front, Foreign Institutional Investors (FIIs) sold equities worth ₹2,831.59 crore, whereas Domestic Institutional Investors (DIIs) purchased stocks worth ₹3,845.87 crore, according to exchange data.
The Reserve Bank of India’s (RBI) Monetary Policy Committee began its three-day meeting on Monday, with its policy decision scheduled for Wednesday.
Global crude oil benchmark Brent fell 0.79% to USD 67.43 per barrel.
On Monday, the Sensex had declined 61.52 points (0.08%) to 80,364.94, and the Nifty slipped 19.80 points (0.08%) to 24,634.90.
