Markets rebound in early trade as blue-chip stocks attract buying

Equity market indices bounce back in early trade, driven by strong buying in blue-chip stocks and significant inflows from domestic institutional investors, despite foreign fund outflows.

Equity market benchmark indices rebounded in early trade on Tuesday amid buying in blue-chip stocks and persistent fund inflows by domestic institutional investors.

After falling in the previous trade, the BSE Sensex bounced back and climbed 239.33 points to 81,390.60 in early trade. The NSE Nifty went up by 72.95 points to 24,854.05.

From the 30 Sensex pack, UltraTech Cement, Titan, Infosys, ICICI Bank, Power Grid, Tech Mahindra, Nestle, and Bajaj Finserv were among the biggest gainers. Tata Steel, Kotak Mahindra Bank, Tata Motors, and NTPC were among the laggards.

Domestic Institutional Investors (DIIs) bought equities worth Rs 3,225.91 crore on Monday, according to exchange data. However, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,261.83 crore, as per PTI.

In Asian markets, Shanghai and Hong Kong quoted higher, while Seoul and Tokyo were trading lower. The US markets ended on a mixed note on Monday, according to PTI.

Global oil benchmark Brent crude dipped 0.24 per cent to USD 74.11 a barrel. The BSE benchmark declined 73.48 points or 0.09 per cent to settle at 81,151.27 on Monday. The Nifty dipped 72.95 points or 0.29 per cent to 24,781.10. As per PTI, the market sentiment was lifted by domestic buying, despite foreign sell-offs.

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