Sensex, Nifty rebound on TCS, ITC gains amid mixed global cues

Sensex and Nifty rebounded in early trade on Friday, supported by gains in TCS, ITC, and Maruti. Mixed global trends and foreign fund outflows kept investors cautious, while Brent crude eased and FIIs remained net sellers.

Mumbai: Benchmark indices Sensex and Nifty bounced back in early trade on Friday amid buying in blue-chips Tata Consultancy Services and ITC.

The 30-share BSE Sensex climbed 132.77 points to 84,537.23 in early trade. The 50-share NSE Nifty went up by 37 points to 25,914.85.

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From the Sensex firms, Maruti, Tata Consultancy Services, Bharat Electronics, Bajaj Finance, Titan and ITC were among the major gainers.

However, NTPC, Kotak Mahindra Bank, Eternal and Tata Steel were among the major laggards.

In Asian markets, South Korea’s Kospi and Japan’s Nikkei 225 index were trading in positive territory, while Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index quoted lower.

US markets ended in negative territory on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,077.59 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs) however were the buyers, as they bought equities worth Rs 2,469.34 crore in the previous trade.

“Global markets are trading mixed this Friday morning, reflecting investor caution after US indices closed lower overnight… Investors remain guarded as they assess the Federal Reserve’s latest policy signals and await upcoming economic data for clarity on the global outlook.

“Across Asia, the market tone is largely uneven, with investors treading cautiously ahead of the weekend amid lingering global volatility,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.

Global oil benchmark Brent crude declined 0.65 per cent to USD 64.58 a barrel.

On Thursday, the Sensex tanked 592.67 points or 0.70 per cent to settle at 84,404.46. The Nifty tumbled 176.05 points or 0.68 per cent to 25,877.85.