Despite FII selling, mkts stage rebound

Renewed Buying

•Easing Eurozone’s inflation for 3rdmth

•FIIs offloaded RsRs 1,023.91-cr worth equities

•The indices gained in 2 out of past 7 sessions

Mumbai: Benchmark equity indices Sensex and Nifty closed over half a per cent higher on Monday, snapping their two-day falling streak on buying in index majors Reliance Industries and Tata Consultancy Services and firm global trends. The 30-share BSE Sensex jumped 367.47 points or 0.56 per cent to settle at 66,527.67 with 24 of its constituents ending in the green. The index opened lower, but later rebounded from early lows and hit a high of 66,598.42 as power, oil, IT and metal shares advanced.

The NSE Nifty climbed 107.75 points or 0.55 per cent to end at 19,753.80. The broader index fell below the 19,600 level in early trade, but later recouped losses and hit a high of 19,772.75 as most of its shares traded in the green. As many as 35 of Nifty shares advanced, 14 declined and one closed unchanged. Sensex dropped by 547 points, while Nifty lost 132 points in the last two sessions. The indices have gained in two out of the past seven sessions.

“Indian indices have resumed their rally, following the global market trend, as cooling inflation across the globe gave hopes of an end to the policy tightening era,” said Vinod Nair, head (research) at Geojit Financial Services.