: Markets stage a comeback on bargain-hunting; RIL, IT counters spurt #finance #StockMarketNEWS #Business PTI Mumbai Market benchmarks clawed back some lost ground on Tuesday after two days of

Posted in: #finance #StockMarketNEWS #Business

Markets stage a comeback on bargain-hunting; RIL, IT counters spurt #finance #StockMarketNEWS #Business
PTI

Mumbai

Market benchmarks clawed back some lost ground on Tuesday after two days of heavy declines as investors made a cautious return to energy, IT and finance stocks amid supportive global cues.

A sharp recovery in the rupee further fuelled the rebound, traders said.

The 30-share BSE Sensex opened strong and rallied to 56,900, before paring some gains to close at 56,319.01, up 497 points or 0.89 per cent.

Similarly, the NSE Nifty advanced 156.65 points or 0.94 per cent to 16,770.85.

HCL Tech was the top performer in the Sensex pack, spurting 3.91 per cent, followed by Wipro, Tata Steel, Tech Mahindra, UltraTech Cement, Titan and SunPharma.

On the other hand, PowerGird, Axis Bank, Bajaj Finance, SBI, M&M, Kotak Bank and HDFC closed with losses of up to1.50 per cent.

The market breadth was in favour of the bulls, with 23 advances compared to seven declines.

“Indian market is attempting to recover from yesterday’s heavy selloff, domestic indices staged a gap-up opening on bargain hunting supported by positive sentiments across global markets�? said Vinod Nair, Head of Research at Geojit Financial Services.
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