Markets bounce back after two days of fall on buying in Reliance, Infosys; firm European equities

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| Photo Credit: Paul Noronha

Benchmark equity indices bounced back sharply and ended in the positive territory on August 14, helped by fag-end buying in index heavyweights Reliance Industries and Infosys along with a firm beginning in European markets.

The 30-share The BSE Sensex climbed 79.27 points or 0.12% to settle at 65,401.92. During the day, it fell 500.77 points or 0.76% to 64,821.88.

The NSE Nifty gained 6.25 points or 0.03% to end at 19,434.55.

From the Sensex pack, Infosys, Hindustan Unilever, Reliance Industries, ICICI Bank, Larsen & Toubro, Asian Paints, Nestle, Axis Bank, Wipro and Kotak Mahindra Bank were the major gainers.

JSW Steel, State Bank of India, Tata Steel, Bajaj Finserv, UltraTech Cement, IndusInd Bank, Tata Motors, and Bajaj Finance were the major laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory.

European markets were trading mostly in the green.

The U.S. markets ended mostly lower on Friday.

The wholesale price based inflation remained in the negative territory for the fourth straight month in July at (-)1.36% on easing prices of fuel, even though food articles turned costlier.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,073.28 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.33% to $$86.52 a barrel.

The BSE benchmark fell by 365.53 points or 0.56% to settle at 65,322.65 on Friday. The Nifty declined by 114.80 points or 0.59% to end at 19,428.30.