Sensex rebounds over 100 points, Nifty nears 10,700-mark on strong buying by institutional investors

Mumbai: The BSE benchmark Sensex recovered over 100 points on Tuesday, led by strong buying by domestic institutional investors amid positive global cues.

The 30-share index was trading 124.21 points, or 0.35 percent, at 35,622.65. Similarly, the 50-share NSE Nifty rose 38.90 points, or 0.37 percent, to 10,679.85.

Top gainers in the Sensex pack include Bharti Airtel, Bajaj Finance, M&M, PowerGrid, ICICI Bank, ONGC, L&T, Bajaj Auto, Vedanta, Tata Steel, Axis Bank and Yes Bank, rising up to 1.45 percent. On the other hand, HUL, Tata Motors, Infosys, HDFC, TCS and IndusInd Bank were the losers, falling up to 0.76 percent.

Investor sentiment was positive on strong buying by domestic institutional investors (DIIs), said traders.

Sensex rebounds over 100 points, Nifty nears 10,700-mark on strong buying by institutional investors

Stock brokers. Representational image. Getty

On a net basis, DIIs were net buyers to the tune of Rs 2,336.74 crore, while foreign institutional investors sold shares worth a net of Rs 1,239.79 crore on Monday, provisional data available with BSE showed.

A firm trend in global equities on hopes of a resolution to the US-China trade conflict, as the next round of talks begin later in the day, too pushed domestic indices in the positive terrain, traders added.

Hong Kong's Hang Seng was up 0.03 percent, Shanghai Composite Index rose 0.25 percent higher, Kospi inched 0.01 percent higher, and Japan's Nikkei gained 0.07 percent in early trade.

On Wall Street, Dow Jones Industrial Average was closed on Monday for a public holiday.

The benchmark Brent crude futures slipped 0.57 percent to $66.12 per barrel.

Meanwhile, the domestic currency derivatives markets are closed on account of Chhatrapati Shivaji Jayanti.

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Updated Date: Feb 19, 2019 10:04:46 IST

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