Sensex, Nifty climb for third day after initial drop; Axis bank, SBI lead gains

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Image Source : FILE PHOTO Nestle India, HCL Technologies, Sun Pharma, Kotak Mahindra Bank, Infosys, Dr Reddy’s and Asian Paints were the biggest laggards.

Sensex and Nifty bounced back after falling in initial trade on Tuesday amid foreign funds inflow and a mixed trend in global markets.

The 30-share BSE Sensex advanced 246.47 points or 0.45 per cent to settle at 54,767.62 after starting the trade on a weak note. In a volatile session, the benchmark hit a high of 54,817.52 and a low of 54,232.82 during the day. Along similar lines, the broader NSE Nifty climbed 62.05 points or 0.38 per cent to close at 16,340.55.

Among the Sensex constituents, Axis Bank, Mahindra & Mahindra, Bajaj Finserv, IndusInd Bank, Tata Steel, UltraTech Cement and State Bank of India were the major gainers. However, Nestle India, HCL Technologies, Sun Pharma, Kotak Mahindra Bank, Infosys, Dr Reddy’s and Asian Paints were the biggest laggards.

In Asia, markets in Seoul and Hong Kong ended lower, while Tokyo and Shanghai settled in the green. Markets in Europe were trading on a mixed note during mid-session deals. The US markets had ended lower on Monday.

International oil benchmark Brent crude dipped 0.57 per cent to USD 105.7 per barrel. Foreign institutional investors turned net buyers on Monday, picking up shares worth Rs 156.08 crore, as per exchange data.

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