Sensex rebounds 585 pts on buying in blue-chips

Mumbai: Stock markets snapped the six-day losing run on Tuesday with benchmark Sensex climbing nearly 585 points on the back of value buying in blue-chips like HDFC Bank, Reliance Industries and Mahindra & Mahindra.

The 30-share BSE Sensex rose by 584.81 points or 0.72 per cent to close at 81,634.81. During the day, it surged 713.28 points or 0.88 per cent to hit an intraday high of 81,763.28.

The NSE Nifty rose 217.40 points or 0.88 per cent to 25,013.15. It jumped 248.25 points or 1 per cent to hit an high of 25,044.

From the Sensex pack, Adani Ports & Special Economic Zones, Mahindra & Mahindra, Reliance Industries, HDFC Bank, Larsen & Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers.

In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.

In the broader market, the BSE midcap gauge jumped 1.86 per cent and smallcap index soared 2.44 per cent.

Sector-wise, services surged by 3.25 per cent, while Capital Goods by 2.82 per cent, Industrials by 2.81 per cent, Power by 2.44 per cent, and Telcommunication by 2.35 per cent.

Metal is the only index which ended lower.

The market capitalisation of BSE-listed firms surged Rs 7,51,481.51 crore to Rs 4,59,50,926.21 crore ($5.47 trillion).

European markets were trading lower in mid-session deals. The US markets ended in negative territory on Monday.

In Asian markets, Tokyo, Hong Kong and Seoul settled lower, while Shanghai ended on a positive note.

Global oil benchmark Brent crude declined 1.84 per cent to $79.44 a barrel.