Sensex, Nifty rebound in early trade on Asian cues and foreign fund inflow

Sensex and Nifty bounced back in early trade on Monday after three consecutive losses, driven by positive Asian markets and fresh foreign fund inflows. Key blue-chip stocks gained, while Brent crude rose to USD 64.04 per barrel.

Mumbai: Equity benchmark indices Sensex and Nifty rebounded in early trade on Monday after sliding for the past three sessions tracking positive trends in Asian markets and buying in blue-chip stocks.

Besides, traers said fresh foreign fund inflows also supported investors’ sentiment.

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The 30-share BSE Sensex climbed 267.74 points or 0.32 per cent to 83,484.02 in early trade. The 50-share NSE Nifty advanced 84.90 points or 0.33 per cent to 25,577.20.

Among the 30 Sensex firms, Asian Paints, Bharat Electronic Ltd, Larsen & Toubro, Titan, Reliance Industries, Tata Motors Passenger Vehicles, Infosys, Bajaj Finserv, Axis Bank, Bajaj Finance, ITC and Bharti Airtel were the gainers.

Trent Ltd, Power Grid, Mahindra & Mahindra, NTPC, State Bank of India, Adani Ports and UltraTech Cement were among the laggards.

In Asian markets, South Korea’s Kospi jumped 3 per cent, Japan’s Nikkei 225 index gained nearly 1 per cent, and Hong Kong’s Hang Seng rose 0.47 per cent, while Shanghai’s Composite Index was trading marginally lower.

The US markets ended largely higher on Friday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 4,581.34 crore on Friday, while Domestic Institutional Investors outnumbered the FIIs by acquiring the stocks worth Rs 6,674.77 crore, according to the exchange data.

Brent crude, the global oil benchmark, increased by 0.64 per cent to USD 64.04 per barrel.

On Friday, the 30-share BSE Sensex declined 94.73 points to settle at 83,216.28. The 50-share NSE Nifty dipped 17.40 points to 25,492.30.