After Monday's blood bath, markets rebound in early trade

After Monday's blood bath, markets rebound in early trade

The BSE benchmark Sensex climbed 488.4 points to 58,461.02 points in early trade. Similarly, the NSE Nifty advanced 154.55 points to 17,467.45 points.

PTIUpdated: Tuesday, August 30, 2022, 10:41 AM IST
article-image
Markets fall in early trade; bounce back later |

Mumbai: Benchmark indices bounced back in early deals on Tuesday after falling sharply in the previous trade amid buying in banking counters and mixed global trends.

The BSE benchmark Sensex climbed 488.4 points to 58,461.02 points in early trade. Similarly, the NSE Nifty advanced 154.55 points to 17,467.45 points.

From the Sensex pack, Bajaj Finserv, Bajaj Finance, IndusInd Bank, Maruti, Tata Steel, NTPC, UltraTech Cement, State Bank of India and Axis Bank were among the major winners.

Bharti Airtel and Dr Reddy's were the only laggards.

Elsewhere in Asia, markets in Seoul and Tokyo were trading in the green while Shanghai and Hong Kong quoted lower in mid-session deals.

The US markets had ended lower on Monday.

The BSE benchmark tanked 861.25 points or 1.46 per cent to settle at 57,972.62 points on Monday. The Nifty fell 246 points or 1.4 per cent to 17,312.90 points.

"Compared to the sell-off in US markets last Friday, the correction in the Indian market yesterday was relatively mild. This is a reflection of the resilience of the Indian market," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

Meanwhile, the international oil benchmark Brent crude declined 0.83 per cent to USD 104.22 per barrel.

Foreign institutional investors (FIIs) offloaded shares worth Rs 561.22 crore on Monday, according to exchange data.

RECENT STORIES

India’s Festive Season To Create Over 2.16 Lakh Jobs In H2 2025, Driven B Retail, E-commerce And...

India’s Festive Season To Create Over 2.16 Lakh Jobs In H2 2025, Driven B Retail, E-commerce And...

Gold Drops ₹500 Amid Stockist Selling, Silver Falls ₹1,000 Despite Global Gains

Gold Drops ₹500 Amid Stockist Selling, Silver Falls ₹1,000 Despite Global Gains

Tech Mahindra Q1 FY26 Net Profit Rises 33.9% To ₹1,140.6 Crore; Revenue Grows Marginally To...

Tech Mahindra Q1 FY26 Net Profit Rises 33.9% To ₹1,140.6 Crore; Revenue Grows Marginally To...

Govt Approves ₹20,000 Crore Investment Power For NTPC To Add 60 GW Green Energy By 2032

Govt Approves ₹20,000 Crore Investment Power For NTPC To Add 60 GW Green Energy By 2032

Telecom Operator MTNL Defaults On ₹8,585 Crore Loans to 7 PSU Banks

Telecom Operator MTNL Defaults On ₹8,585 Crore Loans to 7 PSU Banks