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Sensex, Nifty rangebound after four straight sessions of slump
Mumbai: The Indian stock market's key indices, Sensex and Nifty, were rangebound with positive bias in the early afternoon session on Tuesday supported by buying interest in power and energy stocks.
The 30 stock S&P BSE Sensex was trading 105.79 points or 0.19 per cent higher at 57,251.01 points at 12.02 pm against its previous day's close at 57,145.22 points. Reversing four consecutive sessions of losses, the Sensex started the day in the positive at 57,376.52 points and jumped to a high of 57,704.57 points in the early morning session. The markets witnessed selling pressure in the late morning session slipping below the 57,000 points mark. The index hit a low of 56,950.52 points.
The Sensex is trading in the positive after four straight sessions of a deep cut. The index had lost 953.70 points or 1.64 per cent on Monday.
The broader Nifty 50 of the National Stock Exchange was trading 35.30 points or 0.21 per cent higher at 17,051.60 points against its previous day's close at 17,016.30 points.
The Nifty had slumped by 311.05 points or 1.8 per cent on Monday.
Power Grid Corporation jumped 1.84 per cent to Rs 204.95. Hindustan Unilever climbed 1.28 per cent to Rs 2697.30. ITC climbed 1.20 per cent to Rs 336.55.
The index heavyweight Reliance Industries Limited was trading 0.78 per cent higher at Rs 2396.15.
IndusInd Bank, Dr Reddy's Laboratories, NTPC, HCL Technologies, Bajaj Finance, Nestle India and Infosys were among the major Sensex gainers.
Tata Steel slumped 2 per cent to Rs 97.85. Titan dipped 1.51 per cent to Rs 2614.45. Mahindra & Mahindra, Kotak Bank, Maruti Suzuki, Tech Mahindra and ICICI Bank were among the major Sensex losers. (ANI)