Sensex, Nifty Rebound After Downtrend - Business News

Mumbai, Dec 10 (PTI) Equity benchmark indices Sensex and Nifty bounced back in early trade on Tuesday after two straight days of downtrend on value-buying at lower levels, along with a rally in blue-chip stocks Infosys and HDFC Bank.

Fresh foreign fund inflows and a rally in the Asian markets also added to markets' rebound.

The BSE benchmark Sensex climbed 193.17 points, or 0.24 per cent, to 81,701.63 in early trade. The broader NSE Nifty rose 47.40 points, or 0.19 per cent, to 24,666.40.

From the 30-share Sensex pack, Bajaj Finserv, Tata Motors, Infosys, Bajaj Finance, HCL Technologies, Titan, and Kotak Mahindra Bank were among the gainers.

Mahindra & Mahindra, Bharti Airtel, Tech Mahindra, UltraTech Cement, Reliance Industries, and Maruti were the laggards.

In Asian markets, Seoul, Tokyo, Hong Kong, and Shanghai were trading higher.

"Asian equities advanced after China's top leaders signalled bolder stimulus next year as they seek to revive the world's second-largest economy," Deepak Jasani, Head of Retail Research at HDFC Securities, said.

The US markets ended lower in overnight deals on Monday.

Global oil benchmark Brent crude fell 0.29 per cent to USD 71.93 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 724.27 crore on Monday, while Domestic Institutional Investors (DIIs) offloaded shares worth Rs 1,648.07 crore, according to exchange data.

On Monday, the 30-share BSE Sensex declined 200.66 points to settle at 81,508.46 while NSE Nifty dropped 58.80 points to close at 24,619.