Sensex rebounds 117 points in sea-saw trade

Posted October 25, 2017

The BSE Sensex advanced by 0.31% and the broader Nifty closed above the 10,200 mark on Tuesday mainly on the back of gains in banking, FMCG and oil stocks despite profit booking in key bluechips like RIL and Infosys. Asian shares held within a striking distance of recent decade highs on Tuesday.

However, revival of buying towards the middle of the session helped the index wipe out losses and touch a high of 32,614.89 before settling 116.76 points or 0.36 per cent higher at 32,506.72.

The Nifty was up 0.35 per cent at 10,220.85 as of 0539 GMT, driven by HDFC Bank and ICICI Bank Ltd. At the close, the benchmark 30-share index, BSE Sensex added 100.62 or 0.31% at 32,607.34 with 19 components registering rise.

Besides, positive cues from Asian markets with the Japan's Nikkei posting the longest winning-streak in its almost 70-year history as markets cheered the weekend election victory of Japan's pro-business prime minister, had positive impact, they said. "Stocks of PSU banks rose on hopes of early recapitalisation of banks", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) provisionally closed on a positive note.

Shares of Asian Paints were the biggest gainer on Sensex today, rose as much as 4.1% to Rs 1,220.5 after the company reported a rise of 21% in second-quarter profit to Rs 576 crore.

Major Sensex losers were: Tata Motors DVR, down 1.66 per cent at Rs 230.90; Tata Motors, down 1.54 per cent at Rs 415.80; Infosys, down 1.37 per cent at Rs 926.75; Sun Pharma, down 1.07 per cent at Rs 534.45; and Mahindra and Mahindra, down 1.06 per cent at Rs 1,352.50.