Markets rebound on fag-end buying

Equity benchmark indices bounced back from intra-day lows to settle in the positive territory on Thursday helped by fag-end buying. In a volatile trade amid the monthly derivatives expiry, the 30-share BSE Sensex climbed 98.84 points or 0.16 per cent to settle at 61,872.62. During the day, it hit a high of 61,934.01 and a low of 61,484.66. The NSE Nifty gained 35.75 points or 0.20 per cent to end at 18,321.15 after beginning the trade on a weak note.

“Markets oscillated in a narrow range on the monthly expiry day and settled marginally higher. After the flat start, the Nifty slipped gradually lower, however, support around the 18,200 zone triggered a steady rebound in the final hours,”said Ajit Mishra, V-P (technical research), Religare Broking Ltd.

From the Sensex pack, Bharti Airtel, ITC, Kotak Mahindra Bank, Larsen & Toubro, Power Grid, Bajaj Finance, Infosys, Nestle, Asian Paints and Mahindra & Mahindra were among the major gainers. Wipro, Tata Motors, IndusInd Bank, HDFC, Hindustan Unilever, State Bank of India and Tata Steel were the major laggards.

In the broader market, the BSE midcap gauge climbed 0.36 per cent and smallcap index gained 0.27 per cent. Among the indices, telecommunication rallied 1.67 per cent, realty jumped 1.10 per cent, FMCG (0.69 per cent), teck (0.58 per cent), consumer discretionary (0.57 per cent), industrials (0.57 per cent) and power (0.54 per cent). Metal, commodities, energy and financial services were the laggards.

In Asian markets, Seoul, Shanghai and Hong Kong settled lower, while Tokyo ended in the green. Equity markets in Europe were trading on a mixed note. The US market ended lower on Wednesday. The Sensex fell 208.01 points or 0.34 per cent to settle at 61,773.78 on Wednesday. The Nifty declined 62.60 points or 0.34 per cent to end at 18,285.40.