Sensex Rebounds Over 500 Points From Day’s Low;HDFC, Bharti Airtel, ITC Top Gainers

Bharti Airtel, HDFC, ITC and Reliance Industries have gained 1-2 per cent each on BSE

The benchmark indices have rebounded from intra-day lows to touch fresh life-time highs on Tuesday afternoon, thanks to buying interest in heavyweights such as HDFC, Bharti Airtel, ITC and Reliance Industries. The BSE Sensex has recovered more than 500 points from the lows of the day and as of 1:45 pm, is trading at 58,5222.35, higher by 227.42 points or 0.39 per cent and the Nifty 50 is at 17,425.45, up 49.20 points or 0.28 per cent.

In the broader markets, the BSE Midcap index is trading absolutely flat and the BSE Smallcap index has edged lower by 0.2 per cent.

In the currency market, the rupee has slipped 7 paise to 73.17 against the US dollar, tracking a strong dollar in the overseas market and muted trend in domestic equities. At the interbank foreign exchange, the rupee opened at 73.12 against the dollar and fell to 73.17 thereafter, registering a decline of 7 paise from the previous close.

On the stock-specific front, Bharti Airtel has gained more than 2 per cent to top the gainers list on the BSE. HDFC, ITC and Reliance Industries have gained 1-2 per cent each.

On the other hand, Sun Pharma, Axis Bank, Powergrid and Tech Mahindra have shed up to half a per cent each on the BSE.

The market breadth is negative on the BSE, with 1,1776 declining shares as against 1,323 advances .