Sensex rebounds 295 pts on positive global cues

Sensex rebounds 295 pts on positive global cues

The wider Nifty50 of the National Stock Exchange held the 10,500-mark and closed higher by 84.80 points or 0.81 per cent at 10,539.75 points.

The market rebounded sharply on Monday with the rising almost 300 points after posting 3 percent loss in previous week, driven by positive global cues.

Data for index of industrial production (IIP) for December and consumer price inflation for January are due to be released today.

The Indian equity markets will remain closed on Tuesday (February 13) for Mahashivratri.

While the midcap index closed 217 points higher at 16,852 level, the small cap index rose 290 points to 18,463 points.


Major gainers were ONGC, Tata Steel, Sun Pharma, Bharti Airtel, Adani Ports, L&T, HeromotoCorp and Axis Bank.

SBI, however, dropped 2.85% following poor quarterly results. "At this steep correction, we think it is time to add some of the quality stocks like Himadri Chemical, Graphite, Rain industries in Chemicals sector which have corrected a lot and there is a huge potential left", Chirag Singhvi of KIFS Trade Capital told Moneycontrol.

Fortis Healthcare topped the value chart on the BSE with a turnover of Rs. 1,436.16 million.

The BSE market breadth was bullish as 2021 stocks advanced as against 778 declines. Both indices were higher than Friday's close by almost 0.7%.

European shares rebounded from six-month lows on Monday as jitters over a sudden spike in volatility that wiped off $1 trillion in market capitalization last week appeared to ease. It traded at 64.28 to a dollar at 11.20 am, against Friday's close of 64.40.

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