Sensex, Nifty end marginally rebound; ONGC is rallying 6%

Sensex, Nifty end marginally rebound; ONGC is rallying 6%

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The 30-stock BSE benchmark Sensex rose 7.09 points, or 0.01 per cent, to close at 49,751.41 after falling 667.46 points during the day.

The equity benchmark Sensex and Nifty closed marginally higher on Tuesday amid high volatility and weak signals in global markets.

After falling 667.46 points during the day, the 30-stock BSE benchmark Sensex rose 7.09 points, or 0.01 per cent, to close at 49,751.41.

After a similar move, the broader NSE Nifty rose 32.10 points, or 0.22 per cent, to stabilize at 14,707.80.

ONGC will be the biggest gainer in the Sensex pack, followed by IndusInd Bank, L&T, Ultratech Cement, Titan, SBI and NTPC.

On the other hand, Kotak Bank, Maruti, Bajaj Auto Toe, HDFC Bank and HCL Tech have lagged behind.

Reliance Securities strategist Binod Modi said that amid high volatility, local equities saw a roller coaster ride, with significant gains in metals and realty indices.

He added that concerns over rising bond yields and rising commodity prices had dampened investor sentiment in the last few days. However, the underlying power of the economy and the market remains the same.

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Elsewhere in Asia, the bourses of Shanghai and Seoul ended on a negative note, while Hong Kong stabilized with gains.

Stock exchanges in Europe were also trading red in mid-term trades.

Meanwhile, global oil benchmark Brent crude rose 0.81 percent to. 64.68.8 a barrel.

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