Sensex, Nifty rebound after 3-day slide as global markets rally
Benchmark indices Sensex and Nifty bounced back in early trade Wednesday, ending a three-session losing streak. Gains were driven by a global market rally, steady SIP inflows, and stronger-than-expected US job data, despite ongoing concerns over trade policies.
Mumbai: Benchmark stock indices Sensex and Nifty rebounded in early trade on Wednesday after three days of decline tracking a rally in global markets.
The 30-share BSE Sensex climbed 230.17 points to 80,967.68 in early trade. The NSE Nifty went up by 70.25 points to 24,612.75.
From the Sensex firms, Bharti Airtel, Eternal, IndusInd Bank, Maruti, Tata Motors and Bajaj Finance were the major gainers.
However, Tata Consultancy Services, UltraTech Cement, Titan and ICICI Bank were among the laggards.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng were trading significantly higher.
US markets ended in the positive territory on Tuesday.
“The strong fundamental factors that will support the market are India’s robust and improving macros and sustained flows into mutual funds, particularly the SIP inflows which are steady and growing. This reflects the coming of age of the Indian retail investor.
An important takeaway from the Q4 results is the outperformance of the midcaps relative to large-caps and small-caps,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,853.83 crore on Tuesday, according to exchange data.
“The market is expected to open on a positive note, supported by a global market rally driven by stronger-than-expected US job openings data, which helped lift investor sentiment despite ongoing concerns around President Donald Trump’s tariff policies,” Vikas Jain, Head of Research at Reliance Securities, said in his pre-open market commentary.
Global oil benchmark Brent crude declined 0.32 per cent to USD 65.42 a barrel.
The 30-share BSE Sensex tanked 636.24 points or 0.78 per cent to settle at 80,737.51 on Tuesday. The Nifty plunged 174.10 points or 0.70 per cent to 24,542.50.
