Sensex, Nifty Rebound on Tuesday Amid Bank Stock Buying

Benchmark indices Sensex and Nifty recovered in early trade on Tuesday after a sharp decline over the past seven sessions, driven by buying in banking stocks.

The 30-share BSE Sensex rose 312.88 points to 80,677.82, while the 50-share NSE Nifty gained 96.9 points to 24,731.80.

Among Sensex stocks, Power Grid, Asian Paints, Bajaj Finance, Bharat Electronics, Titan, HDFC Bank, HCL Tech, UltraTech Cement, SBI, and ICICI Bank were the top gainers. Reliance Industries, ITC, Larsen & Toubro, and Trent lagged behind.

Over the past seven trading days, the BSE Sensex fell 2,649.02 points (3.19%) and the Nifty dropped 788.7 points (3.10%), reflecting broader market weakness.

In Asia, Shanghai’s SSE Composite traded higher, while South Korea’s Kospi, Japan’s Nikkei 225, and Hong Kong’s Hang Seng were lower. U.S. markets ended higher on Monday, September 29.

On the domestic front, FIIs sold equities worth ₹2,831.59 crore, while DIIs bought stocks worth ₹3,845.87 crore. Investors are also eyeing the RBI Monetary Policy Committee, which began its three-day meeting on Monday; the panel’s rate decision is expected on Wednesday, October 1.

Global crude oil prices edged lower, with Brent crude down 0.79% to $67.43 per barrel.