Sensex rebounds 114 points in see-saw trade

Markets benefited from value buying in recently battered stocks amid mixed overseas cues.

Mumbai: The BSE Sensex rebounded over 114 points to close at 35,378.60 in volatile trade on Tuesday, with institutional investors lending crucial support amid recovery in the rupee.

Markets benefited from value buying in recently battered stocks amid mixed overseas cues, brokers said. The rupee recovering from record lows against the US dollar bolstered sentiment, they added.

The Sensex shrugged of its weak start and touched a high of 35,445.21 on robust buying in pharma and IT stocks. It finally settled at 35,378.60, showing a gain of 114.19 points, or 0.32 per cent.

The index had lost 159 points in the previous session as investors scrambled to unwind bets amid global trade tensions and unabated foreign capital outflows.

The broader NSE Nifty also went up by 42.60 points or 0.40 to end at Rs 10,699.90 after shuttling between 10,630.25 and 10,713.30.

Sun Pharma, Maruti Suzuki, Infosys, ONGC, Kotak Bank, ITC, Tata Steel, Tata Motors, RIL, TCS, Bajaj Auto, Hero Motocorp, NTPC, M&M, Bharti Airtel, HDFC Ltd, IndusInd Bank and Wipro ended in the positive zone, rising up to 1.79 per cent.

On the other hand, Vedanta, ICICI Bank, SBI, Power Grid, Yes Bank, Adani Ports, HUL, Asian Paints, L&T, Coal India and Axis Bank were among the losers, falling up to 3.25 per cent.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 366.94 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 1,205.12 crore on Monday, as per provisional data.