India News | Markets Bounce Back After Early Decline

Mumbai, Nov 16 (PTI) Benchmark equity indices declined in early trade on Thursday amid weak trends in Asian markets, but soon bounced back to quote in the positive territory.

The 30-share BSE Sensex fell 168.91 points to 65,507.02 in early deals. The Nifty dipped 48.45 points to 19,627.

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But, later both the benchmark equity indices bounced back to quote in the green amid optimism due to fresh foreign fund inflows.

The Sensex traded 101.16 points up at 65,777.64 while the Nifty quoted with a gain of 23 points at 19,698.45.

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Among the Sensex firms, Bajaj Finance, Power Grid, Bajaj Finserv, JSW Steel, Titan and Tata Steel were the major laggards.

NTPC, Tata Consultancy Services, Tata Motors and HCL Technologies were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

The US markets ended with gains on Wednesday.

Global oil benchmark Brent crude declined 0.75 per cent to USD 80.57 a barrel.

Foreign Institutional Investors (FIIs) turned buyers on Wednesday as they bought equities worth Rs 550.19 crore after unabated offloading of shares, according to exchange data.

The Sensex jumped 742.06 points or 1.14 per cent to settle at 65,675.93 on Wednesday. The Nifty climbed 231.90 points or 1.19 per cent to 19,675.45.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)