Published: Wed, October 25, 2017
Medicine | By Rogelio Lindsey

Sensex rebounds 117 points in sea-saw trade

Sensex rebounds 117 points in sea-saw trade

Mumbai: The BSE Sensex staged a strong comeback to end higher by almost 117 points, reversing its three-session losing run on gains in telecom, energy, realty, oil & gas and IT stocks amid firm global cues.

The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.

However, revival of buying towards the middle of the session helped the index wipe out losses and touch a high of 32,614.89 before settling 116.76 points or 0.36 per cent higher at 32,506.72. It edged higher by 47 points or 0.46 per cent to close at 10,193.55 points.

"Markets ended with modest gains on Tuesday after bouncing back from Nifty lows of 10182".

The broader markets depicted a firm trend as investors raised bets on hopes of encouraging earnings, lifting the small-cap index by 0.56% and mid-cap index by 0.21%.

Sector-wise, the S&P BSE banking index surged by 167.61 points, followed by oil and gas index by 101.48 points and metal index by 80.07 points.

Ltd was the top percentage gainer on the NSE index, rising as much as 3.2 per cent to its highest in over four months.

Indiabulls Housing Finance Ltd's shares rose as much as 2.1 per cent after its second-quarter profit jumped almost 26 pct and at least two brokerages raised their target price. The strong end was driven by gains in Reliance Industries, Bharti Airtel, ICICI, HDFC Bank and Infosys.

The stock of HDFC Bank ended little changed, up 0.13% at Rs 1,865.15 after the most valuable lender reported a 20.1% jump in net profit to Rs 4,151 crore for the second quarter of FY 2017-2018.

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