Sensex, Nifty Rebound Led By Gains In Reliance Industries, ICICI Bank

Reliance Industries, ICICI Bank, HDFC Bank, HDFC, Larsen & Toubro, State Bank of India and Axis Bank were top movers in the Sensex.

The Indian equity benchmarks bounced after Monday's sharp selloff led by gains in Reliance Industries, ICICI Bank, HDFC Bank, HDFC, Larsen & Toubro, State Bank of India and Axis Bank. The Sensex rose as much as 266 points and Nifty 50 index moved above its important psychological level of 14,350. As of 9:21 am, the Sensex was up 124 points at 48,007 and Nifty 50 index rose 0.27 per cent or 37 points to 14,347. All the 11 sector gauges, barring the measure of information technology shares, were trading higher led by the Nifty PSU Bank index's 1.52 per cent gain. Metal, Private Bank, Realty, Bank, Auto and Financial Services indexes rose between 0.8-1.2 per cent. Mid- and small-cap shares were also witnessing buying interest as Nifty Midcap 100 index rose 0.75 per cent and Nifty Smallcap 100 index advanced 0.62 per cent.