Sensex, Nifty rebound as investors buy blue-chip stocks after early dip

Equity benchmark indices Sensex and Nifty reversed early losses to end modestly higher on Friday as investors turned to buying bluechip stocks at beaten down pricesThe 30share BSE Sensex benchmark began the trade on a negative note by declining 44935 points or 053 per cent to 8402932 The NSE Nifty started the day off lower by 13835 points or 053 per cent to 2574080However both the benchmark indices showed some recovery at the fag end before closing the session with gains for the fourth day in a rowThe BSE Sensex ended 8411 points or 010 per cent higher at 8456278 while the NSE Nifty went up 3090 points or 012 per cent to settle at 2591005From the Sensex pack Eternal Bharat Electronics Ltd Trent Axis Bank State Bank of India Bajaj Finance Sun Pharmaceuticals Asian Paints Adani Ports Hindustan Unilever Reliance Industries ITC PowerGrid Tata Motors Ltds Commercial Vehicles business and Bajaj Finserv were the gainersInfosys Tata Motors Passenger Vehicles Tata Steel ICICI Bank Tech Mahindra Titan UltraTech Cement Maruti Suzuki India and Larsen amp Toubro were the laggardsInvestors shifted focus to upcoming RBI MPC and US Fed FOMC meetings adding to the waitandwatch mood Sudeep Shah Head Technical Research and Derivatives at SBI Securities saidIn Asian markets South Koreas Kospi Hong Kongs Hang Seng Japans Nikkei 225 and Shanghais SSE Composite Index ended lowerBroader markets in Europe were trading largely lower The US markets ended largely lower in overnight deals on ThursdayMeanwhile foreign institutional investors remained net sellers for the fourth day in a row and offloaded equities worth Rs 38368 crore on Thursday Domestic institutional investors sustained their buying spree and picked up stocks worth Rs 309187 crore according to exchange dataBrent Crude global oil benchmark rose 151 per cent to USD 6393 per barrelOn Thursday the 30share BSE Sensex ended with a gain of 1216 points at 8447867 The broader NSE Nifty closed the session in green with just 335 points at 2587915This story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever