Sensex Rebounds on HDFC Bank Earnings and Global Markets Recovery

17 Oct 2023 , 01:32 PM

Equity benchmark indices rebounded after a three-day fall, driven by global market recovery and HDFC Bank’s positive quarterly earnings. Key gainers among Sensex firms include Power Grid, Bajaj Finance, Tata Steel, HDFC Bank, Tech Mahindra, Wipro, Bajaj Finserv, and Titan.

At the time of writing, Sensex trades at Rs 66,529, a 0.55% increase, while Nifty trades at Rs 19,843, a 0.57% increase from the previous day’s close. HDFC Bank’s stock rose nearly 1% following its robust quarterly net profit of Rs 16,811 crore for the September quarter.

L&T and Hindustan Unilever witnessed a decline, being the laggards among the firms. Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, trend positively. US markets closed with gains on Monday, contributing to the positive sentiment.

Global oil benchmark Brent crude records a minor decline to USD 89.64 a barrel. Foreign Institutional Investors (FIIs) sold equities worth Rs 593.66 crore on Monday, per exchange data. Previous day’s closing: Sensex at 66,166.93 (down 0.17%) and Nifty at 19,731.75 (down 0.10%).

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