Markets bounce back on buying in Reliance, Infosys

Benchmark equity indices bounced back sharply and ended in the positive territory on Monday, helped by fag-end buying in index heavyweights Reliance Industries and Infosys along with a firm beginning in European markets.

The 30-share BSE Sensex climbed 79.27 points or 0.12 per cent to settle at 65,401.92.

During the day, it fell 500.77 points or 0.76 per cent to 64,821.88.

The NSE Nifty gained 6.25 points or 0.03 per cent to end at 19,434.55.

From the Sensex pack, Infosys, Hindustan Unilever, Reliance Industries, ICICI Bank, Larsen & Toubro, Asian Paints, Nestle, Axis Bank, Wipro and Kotak Mahindra Bank were the major gainers.

JSW Steel, State Bank of India, Tata Steel, Bajaj Finserv, UltraTech Cement, IndusInd Bank, Tata Motors and Bajaj Finance were the major laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory.

The wholesale price based inflation remained in the negative territory for the fourth straight month in July at (-)1.36 per cent on easing prices of fuel, even though food articles turned costlier.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,073.28 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.33 per cent to $86.52 a barrel.