Mumbai: Equity markets rebounded in early Monday trade after sharp losses last week, driven by value buying and positive cues from global markets.
The BSE Sensex rose 255.46 points to 80,681.92, while the NSE Nifty 50 gained 89.05 points to 24,743.75.
Among Sensex constituents, Bharat Electronics, Eternal, Tata Steel, Tata Motors, Titan, and Mahindra & Mahindra were top gainers. On the other hand, Hindustan Unilever, Axis Bank, Larsen & Toubro, and Bharti Airtel lagged.
In Asia, South Korea’s Kospi, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng traded higher, while Japan’s Nikkei 225 fell. U.S. markets had ended higher on Friday.
“While U.S. markets got a breather with the Dow snapping a five-day losing streak, attention now shifts to the RBI’s policy on October 1 and the U.S. jobs report on October 3,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Last week, the BSE Sensex plunged 2,199.77 points (2.66%), and the NSE Nifty dropped 672.35 points (2.65%). Foreign Institutional Investors (FIIs) sold equities worth ₹5,687.58 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth ₹5,843.21 crore, according to exchange data.
Brent crude fell 0.60% to USD 69.71 a barrel.
On Friday, the Sensex had tumbled 733.22 points (0.90%) to 80,426.46, and the Nifty declined 236.15 points (0.95%) to a three-week low of 24,654.70.
