Indian equity benchmarks Sensex and Nifty rebounded in early trade after three sessions of losses, supported by gains in banking stocks, positive global cues and easing US bond yields. Record FCNR(B) inflows also boosted confidence in rupee stability and foreign investor sentiment
Benchmark indices Sensex and Nifty opened lower on Wednesday, extending losses for a third straight session as rising crude oil prices and selling in banking stocks dampened investor sentiment. Higher geopolitical tensions also weighed on the domestic equity markets.
Benchmark indices BSE Sensex and NSE Nifty rebounded from early losses to trade higher, driven by banking and capital goods stocks. Investors weighed Middle East tensions, FII selling, and global cues, while Brent crude edged up and Asian markets showed mixed trends
Shares of HDFC Life jumped nearly 12 per cent after the firm reported a 14 per cent rise in net profit to Rs 415 crore in the December quarter. The stock surged 11.15 per cent to Rs 660.55 on the BSE. At the NSE, it soared 11.67 per cent to Rs 663.60
The 30-share BSE Sensex dropped 138.58 points, or 0.17%, to 80,664.28 in early trade. Meanwhile, the NSE Nifty ended its four-day rally, slipping 15.20 points to 24,683.65. Among the 30 Sensex companies, UltraTech Cement, Kotak Mahindra Bank, Tech Mahindra, ICICI Bank, HDFC Bank, IndusInd Bank, Power Grid, and Axis Bank were the major laggards.
