Markets rebound in early trade after 4-day decline

Mumbai: Equity benchmark indices rebounded on Friday in early trade after four days of decline with the Sensex climbing 339.81 points amid mixed global market trends.

The 30-share BSE benchmark was trading 339.81 points higher at 53,755.96. The broader NSE Nifty advanced 72.35 points to 16,011.

Among the Sensex constituents, Hindustan Unilever, Bharti Airtel, Nestle, Larsen & Toubro, Asian Paints, Titan, Maruti, Kotak Mahindra Bank and Reliance Industries were the major gainers.

Wipro, Tata Steel, HCL Technologies, Axis Bank, Tech Mahindra and Bajaj Finance were the laggards.

In Asia, markets in Seoul and Tokyo were trading in the green, while Shanghai and Hong Kong quoted lower.

The US markets had ended on a mixed note on Thursday.

The BSE benchmark settled 98 points or 0.18 per cent lower at 53,416.15 on Thursday. The Nifty ended 28 points or 0.18 per cent down at 15,938.65.

Meanwhile, international oil benchmark Brent crude jumped 0.99 per cent to USD 100.08 per barrel.

Foreign institutional investors turned net buyers in the capital market on Thursday, buying shares worth Rs 309.06 crore, as per exchange data.

“The major drag on the market continues to be the FII selling which has exceeded USD 30 billion, so far this year. But this month, FIIs have been buyers for 2 days including yesterday. This means some of the FIIs have started buying in segments where valuations have become attractive,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.