Markets bounce back after falling in early trade : The Tribune India

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PTI

Mumbai, September 19

Benchmark indices began the trade on a bearish note on Monday in tandem with weak global market trends, but soon recovered all the early lost ground and were trading in the positive territory.

After a weak beginning, the 30-share BSE Sensex further declined 299.15 points to 58,541.64 in early trade. The NSE Nifty, too, fell by 89.85 points to 17,441.

However, later, both the benchmark indices recovered all the early lost ground and were trading higher. The Sensex traded 157.23 points higher at 58,998.02, while the Nifty quoted 49.70 points up at 17,580.55.

From the Sensex pack, UltraTech Cement, Asian Paints, Titan, Dr Reddy’s, Tata Steel, HCL Technologies, Maruti and ICICI Bank were the major laggards in early trade.

Mahindra & Mahindra, IndusInd Bank, Infosys, Bajaj Finserv and State Bank of India were trading in the green.

Elsewhere in Asia, markets in Seoul, Shanghai, Tokyo and Hong Kong were trading lower.

The US markets had ended in the negative territory on Friday.

The 30-share BSE benchmark had tanked 1,093.22 points or 1.82 per cent to settle at 58,840.79 on Friday. The Nifty declined 346.55 points or 1.94 per cent to 17,530.85.

Meanwhile, the international oil benchmark Brent crude climbed 0.62 per cent to USD 91.92 per barrel.

Foreign institutional investors offloaded shares worth Rs 3,260.05 crore on Friday, according to data available with the BSE. 

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