Sensex, Nifty rebound after days of downtrend

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Equity benchmark indices Sensex and Nifty bounced back on Tuesday (November 19, 2024) after days of downtrend on value-buying at lower levels and rally in blue-chip stocks HDFC Bank, Tech Mahindra and M&M.

Continuous buying by domestic institutional investors also supported the indices, traders said.

Snapping its four days of decline, the BSE benchmark Sensex climbed 239.37 points or 0.31% to settle at 77,578.38. However, fag-end decline in Reliance Industries restricted the market rally. During the day, it zoomed 1,112.64 points or 1.43% to 78,451.65.

The NSE Nifty also bounced back after falling in the past seven trading days. It went up by 64.70 points or 0.28% to settle at 23,518.50.

From the 30-share Sensex pack, Mahindra & Mahindra, Tech Mahindra, HDFC Bank, Titan, Tata Motors, UltraTech Cement, Power Grid and Infosys were the biggest gainers.

In contrast, Reliance Industries, State Bank of India, Bajaj Finserv, Maruti, Tata Steel and Bharti Airtel were among the laggards.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,403.40 crore on Monday (November 18, 2024), while Domestic Institutional Investors (DIIs) bought shares worth ₹2,330.56 crore, according to exchange data.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled higher.

European markets were trading lower. The U.S. markets ended mostly higher on Monday (November 18, 2024).

Global oil benchmark Brent crude dipped 0.25% to $73.12 a barrel.

The 30-share BSE benchmark dropped 241.30 points or 0.31% to settle at 77,339.01, registering its fourth day of decline on Monday (November 18, 2024). Falling for the seventh day in a row, the Nifty dipped 78.90 points or 0.34% to 23,453.80.

Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for assembly elections in Maharashtra.