Domestic equities rebound on monsoon progress

Mumbai: Indian equities rebounded towards the fag-end of the session on Tuesday as investors looked beyond Middle East tensions and global trade tiff and took heart from monsoon's swift progress towards central and north India.

After trading in the red zone for a better part of the session, the BSE gauge pared losses and soared over 350 points, before settling 311.98 points, or 0.80 per cent, higher at 39,434.94.

The index hit an intra-day high of 39,490.64 and a low of 38,946.04. Similarly, the broader NSE Nifty rose 96.80 points, or 0.83 per cent, to 11,796.45. The 30-share Sensex was primarily driven by energy, metal, auto and banking stocks.

Sectorally, BSE energy, metal, oil and gas, utilities, power, basic materials and realty indices rallied up to 2.15 per cent. While, BSE capital goods index fell 0.16 per cent.

Broader BSE midcap and smallcap indices followed benchmarks, ending up to 0.66 per cent higher.

Domestic equities kept shuttling between lows and highs during the day as investors remained cautious ahead of the next week's Union Budget and meeting between US President Donald Trump and Chinese President Xi Jinping over trade matters.

On the currency front, the Indian rupee was trading flat at 69.36 against the US dollar. Brent crude futures, the global oil benchmark, fell 0.36 per cent to $63.95 per barrel.