Sensex rebounds 180 pts, Nifty recovers 10,700 mark

Mumbai, Dec 26 After gyrating nearly 700 points Wednesday, benchmark value lists turned around starting misfortunes and finished higher driven by a rebound in banking stocks amid firming trend in the US market.

The BSE Sensex broke its three-day falling streak by closure 179.79 points, or 0.51 percent, higher at 35,649.94. It fell to a low of 35,010.82 during afternoon trade.

The more extensive NSE Nifty too recouped to even consider reclaiming the 10,700 dimension, rising 66.35 points, or 0.62 percent, to 10,729.85.

"Market recovered in the second half following a recovery in Dow futures. At current levels, Nifty 50 is on track to deliver nominal positive returns in CY18. Nifty is the only index among large markets that is positive for the calendar year," said Viral Berawala, CIO of Essel Mutual Fund.

The 30-share index had ended the past session 271.92 points lower at 35,470.15, while the Nifty had lost 90.50 points.

The greatest gainers on the two bourses were Bharti Airtel, HDFC team, L&T, Bajaj Auto, Kotak Bank, Reliance Industries, Axis Bank, ICICI Bank, SBI, ITC and Bajaj Finance, ascending to 4 percent.

Then again, Sun Pharma, Yes Bank, TCS, NTPC, Tata Motors, Infosys and ONGC fell up to 2 percent.

The rupee, in the interim, picked up against the US dollar, and was exchanging at 70.08 per dollar.

Brent unrefined, the international benchmark, was up 0.73 percent at USD 51.14 per barrel.

On a net basis, foreign portfolio speculators (FPIs) sold shares worth Rs 577.10 crore Monday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 186.14 crore, provisional data available with BSE showed.

Elsewhere in Asia, Korea's Kospi ended 1.31 percent lower, Hong Kong's Hang Seng fell 0.40 percent and Shanghai Composite Index slipped 0.26 percent; while, Japan's Nikkei rose 0.89 percent.