Mumbai : The benchmark BSE Sensex more than made up its lost ground by rebounding over 195 points to close at 26.034.13 — nearly 1-month high. Fresh burst of value buying in beaten-down stocks and hectic short-covering along side firm rupee sentiment, predominantly scripted the smart rebound However, the market could not hold on to the pace till the end and witnessed mild pullback, as investors were not confident enough about the current movements and also impacted by knee-jerk volatility ahead of F&O expiry event.
Dr Reddy’s Laboratories was the top gainer on Nifty 50, up nearly 4%, followed by NTPC, Oil & Natural Corp, Tata Motors, Sun Pharmaceutical Industries and ICICI Bank rose 2-3%.
“Banking stocks gained after RBI gave an informal assurance to banks that it will not place curbs against lenders if their stressed loans increase sharply on account of cleaning up their books,” said Anand James, Co-head Technical Research Desk, Geojit BNP Paribas Financial Services Ltd.
Bharti Airtel and Idea Cellular were also among the major laggards, down 2% and 1% respectively on weak sentiment following the soft launch of Reliance Jio’s services on Sunday.
