Sensex rebounds over 300 points, crosses 37,000-mark, Nifty jumps 100 points in afternoon trade

Domestic equity benchmark BSE Sensex rebounded over 300 points and the NSE Nifty is trading close to 11,000-mark in the afternoon trade on Tuesday led by gains in banking stocks.

The 30-share index was trading 336.89 points, or 0.92 percent, higher at 37,036.73 in the afternoon trading. Similarly, the broader NSE Nifty was quoting 99.95 points, or 0.92 percent, up at 10,962.55.

In the previous session on Monday, both benchmark indices saw intense volatility throughout the session due to multiple headwinds like escalation in US-China trade war, weak corporate earnings, rupee downfall and political tensions in Jammu and Kashmir.

The 30-share index had ended 418.38 points, or 1.13 percent, and the Nifty plunged by 134.75 points or 1.23 percent to close at 10,862.60 points.

In afternoon trade on Tuesday, top gainers in the Sensex pack included Tech Mahindra, Bharti Airtel, Yes Bank, L&T, IndusInd Bank, Maruti, Hero MotoCorp, Mahindra & Mahindra and Axis Bank, rising up to 5 percent.

On the other hand, TCS, NTPC, ONGC, Bajaj Auto and Tata Motors fell up to 1.7 percent.

According to traders, despite weak domestic and global cues, value-buying in banking and auto stocks, lifted key indices here.

Elsewhere in Asian, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading significantly lower in their respective early sessions.

Bourses on Wall Street too ended in the red on Monday.

Meanwhile, on a net basis, foreign institutional investors (FIIs) sold equities worth Rs 2,016.73 crore, while domestic institutional investors bought shares to the tune of Rs 1,871.27 crore, provisional data available with stock exchanges showed on Monday.

On the currency front, the Indian rupee appreciated 22 paise to 70.50 against the US dollar.

The global oil benchmark Brent crude futures rose 0.99 percent to 60.40 per barrel.

— With PTI inputs