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Markets rebound after three days of fall on optimism in global equities

Posted on October 17, 2023 By admin


Investors and brokers react as they watch the stock prices on a digital screen. File
| Photo Credit: PTI

Equity benchmark indices bounced back on Tuesday (October 17) after three days of fall amid recovery in global markets and buying in HDFC Bank post its quarterly earnings.

The 30-share BSE Sensex climbed 261.16 points or 0.39% to settle at 66,428.09. During the day, it jumped 392.89 points or 0.59% to 66,559.82.

The Nifty gained 79.75 points or 0.40% to 19,811.50.

Among the Sensex firms, Power Grid, Kotak Mahindra Bank, Tech Mahindra, Bajaj Finserv, ITC, Bharti Airtel, Nestle, NTPC, Bajaj Finance, Reliance Industries, Infosys and HDFC Bank were the major gainers.

HDFC Bank ended nearly 1 per cent up after the company reported a consolidated net profit of Rs 16,811 crore for the September quarter, its maiden quarterly earnings announcement after merging parent HDFC with itself.

Tata Motors, Larsen & Toubro, IndusInd Bank, Tata Consultancy Services, JSW Steel and Mahindra & Mahindra were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the positive territory.

European markets were trading in the green. The U.S. markets had ended with gains on Monday.

Global oil benchmark Brent crude climbed 0.48% to $90.08 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹593.66 crore on Monday, according to exchange data.

The BSE benchmark had declined 115.81 points or 0.17% to settle at 66,166.93 on Monday. The Nifty had slipped 19.30 points or 0.10% to 19,731.75.



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