Sensex, Nifty end 7-day decline on value-buying in IT & auto stocks

Mumbai: Benchmark Sensex rebounded 239 points while Nifty ended its seven-day losing streak on Tuesday following value-buying in banking, IT and auto shares amid mixed global trends.

Snapping its four days of decline, the 30-share Sensex climbed 239.37 points or 0.31 per cent to settle at 77,578.38. However, fag-end decline in Reliance Industries restricted the market rally.

The NSE Nifty also bounced back after seven straight sessions of losses. The broader 50-issue barometer gained 64.70 points or 0.28 per cent to settle at 23,518.50.

Stock markets were on a decline in the past seven sessions with Nifty tanking 1,030 points or over 4.3 per cent due to FII selling, weaker-than-expected quarterly results and strengthening US bond yields. Sensex plunged more than 3,000 points to 77,300 levels during the period.

From the 30-share Sensex pack, Mahindra & Mahindra, Tech Mahindra, HDFC Bank, Titan, Tata Motors, UltraTech Cement, Power Grid and Infosys were the biggest gainers.

In contrast, Reliance Industries, State Bank of India, Bajaj Finserv, Maruti, Tata Steel and Bharti Airtel were among the laggards.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,403.40 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 2,330.56 crore, according to exchange data.

The BSE midcap gauge jumped 0.94 per cent and smallcap index climbed 0.90 per cent.

Among sectoral indices, realty surged 1.45 per cent, auto (1.41 per cent), services (1.24 per cent), consumer discretionary (1.21 per cent), consumer durables (1.01 per cent) and healthcare (0.67 per cent).

Metal, oil & gas and energy were the laggards.

As many as 2,362 stocks advanced while 1,601 declined and 96 remained unchanged on the BSE.

The rupee traded in a narrow range and settled flat at 84.42 against the US dollar on Tuesday, as support from positive domestic equity markets and lower crude oil prices was negated by persistent foreign fund outflows.

The 30-share BSE benchmark dropped 241.30 points or 0.31 per cent to settle at 77,339.01, registering its fourth day of decline on Monday.

Falling for the seventh day in a row, the Nifty dipped 78.90 points or 0.34 per cent to 23,453.80.