Sensex, Nifty close marginally up amid recovery in global markets
India Today
Sensex and Nifty rebounded from early lows to close marginally up on Tuesday, June 28.
Benchmark stock indices Sensex and Nifty rebounded from early lows to close marginally up on Tuesday following fag-end buying in oil and gas, IT and auto stocks amid a recovery in global equities.
Posting gains for a fourth session in a row, the 30-share BSE Sensex settled up 16.17 points or 0.03 per cent at 53,177.45. The index opened lower and dropped nearly 390 points to hit a low of 52,771.53 points due to persistent FII selling and weak global trends.
However, a late recovery in Asian markets and early gains in European exchanges helped the index cut losses. The index recovered by nearly 405 points from the day's low to end with gains.
The NSE Nifty gained 18.15 points or 0.11 per cent to 15,850.20. It hit a low of 15,710.15 and a high of 15,892.10 during the day. As many as 32 of its constituents advanced while 17 declined.
"After a gap down opening, domestic indices were lifted by positive global peers while oil prices rose over renewed supply concerns," Vinod Nair, Head of Research at Geojit Financial Services said.
The weakened rupee and rising bond yields limited domestic investors’ risk appetite, Nair said, adding that gains in commodity-linked stocks and optimism over easing Covid restrictions in China aided the global up-move.
Among Sensex stocks, Mahindra & Mahindra rose the most by 2.78 per cent, followed by index heavyweight Reliance Industries which advanced 1.49 per cent. Dr Reddy's rose by 1.41 per cent, Tata Steel by 1.34 per cent, and Tech Mahindra by 1.26 per cent.
