Sensex rebounds 332 pts on easing crude, rupee gains
After moving between gains and losses, the benchmark BSE Sensex Tuesday ended with 332 points gain on strong buying in energy, infra and banking stocks amid fresh foreign fund inflows and recovery in the rupee.
Mumbai: After moving between gains and losses, the benchmark BSE Sensex Tuesday ended with 332 points gain on strong buying in energy, infra and banking stocks amid fresh foreign fund inflows and recovery in the rupee.
Besides, easing global crude oil prices, which slipped below the USD 70 a barrel, and rupee recovering lost ground also helped build positive sentiments.
The rupee staged a strong comeback by strengthening 37 paise to 72.52 (intra-day) against the American currency.
The global benchmark Brent crude was trading down 0.98 per cent at USD 69.43 per barrel.
The BSE 30-share Sensex after resuming a tad higher at 34,846.90 quickly slipped into the negative zone to touch a low of 34,672.20, largely in sync with global sell-off.
However, hectic buying in late afternoon trade reversed the day's losses and helped the Sensex hit a high of 35,185.17 before settling 331.50 points, or 0.95 per cent, higher at 35,144.49.
The gauge had lost 425 points in the previous two sessions.
The broader NSE Nifty after shuttling between 10,451.90 and 10,595.75 finally concluded 100.30 points, or 0.96 per cent, higher at 10,582.50.
Domestic market sentiments were upbeat about the fall in consumer inflation data for October.
Retail inflation fell to a one-year low of 3.31 per cent in October on the back of cheaper kitchen staples, fruits and protein-rich items, official data released Monday showed.
Industrial production, however, grew at the slowest pace in four months at 4.5 per cent in September.
The industrial production measured in terms of Index of Industrial Production (IIP) was 4.1 per cent in September 2017.
On a net basis, Foreign institutional Investors (FIIs) bought shares worth Rs 832.15 crore, while domestic institutional investors (DIIs) sold shares of Rs 1,073.84 crore Monday, provisional data showed.