Sensex and Nifty rebound nearly 1% on firm global trends, buying in Reliance

Mumbai: Benchmark Sensex and Nifty rebounded nearly 1 per cent on Tuesday amid firm trends in global equities and buying in index major Reliance Industries and banking stocks.

The 30-share BSE Sensex climbed 445.73 points or 0.77 per cent to settle at 58,074.68. During the day, it rallied 504.38 points or 0.87 per cent to 58,133.33. The broader NSE Nifty advanced 119.10 points or 0.70 per cent to settle at 17,107.50. The US FOMC meeting on Wednesday on interest rate decision would be keenly eyed as any hike surpassing street expectations could unsettle investors, he said, adding that falling crude oil prices at a faster pace is raising concerns over the weakening global economic health.

Among the Sensex stocks, Reliance Industries climbed the most by 3.11 per cent, ending its eight-day slide. Bajaj Finance, Titan, Axis Bank, ICICI Bank, Bajaj Finserv, IndusInd Bank, UltraTech Cement, Larsen & Toubro, HDFC Bank, HDFC and Kotak Mahindra Bank were among the other major winners. Power Grid, Hindustan Unilever, Tech Mahindra, Tata Consultancy Services, Infosys and Asian Paints were among the biggest laggards. In the broader market, BSE midcap gauge climbed 0.66 per cent and smallcap index gained 0.50 per cent.