© Reuters.
The Nifty and Sensex experienced a recovery on Tuesday, bouncing back after three consecutive days of decline. This resurgence was fueled by positive global market trends and HDFC Bank’s quarterly earnings report following its merger with parent company HDFC.
The Sensex surged 392.89 points to reach 66,559.82, while the Nifty climbed 118 points to hit 19,849.75. Among the significant gainers in the Sensex pack were stocks including Power Grid, Bajaj Finance, Tata Steel, and HDFC Bank, which traded nearly 2% up after reporting a net profit of Rs 16,811 crore for the September quarter (Q2 FY24). Other notable gainers included Tech Mahindra, Wipro (NYSE:), Bajaj Finserv, and Titan.
On the other hand, Larsen & Toubro was the top loser on both the Indian benchmark indices.
Positive trends from Asian markets in Seoul, Tokyo, Shanghai, and Hong Kong echoed gains, along with Monday’s US markets.
The rebound followed Monday’s downturn when Foreign Institutional Investors (FIIs) sold off equities worth Rs 593.66 crore. This led to the Sensex falling by 115.81 points to 66,166.93 and the Nifty slipping by 19.30 points to 19,731.75.
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