Indices rebound on rally in auto, pharma stocks
The 30-share BSE Sensex climbed 317.45 points or 0.39 per cent to settle at 82,570.91. During the day, it jumped 490.16 points or 0.59 per cent to 82,743.62. The 50-share NSE Nifty edged higher by 113.50 points or 0.45 per cent to 25,195.80. In the last four trading days, the Sensex dropped 1,459.05 points or 1.74 per cent and the Nifty declined by 440 points or 1.72 per cent.
Among Sensex firms, Sun Pharma, Trent, Tata Motors, Bajaj Finserv, Mahindra & Mahindra and Bajaj Finance were the major gainers. However, HCL Tech declined 3.31 per cent after the IT services firm reported a 9.7 per cent drop in consolidated net profit for the June quarter, hurt by higher expenses and the one-time impact of a client bankruptcy. Eternal, Tata Steel, Kotak Mahindra Bank and Axis Bank were also the laggards.
Retail inflation declined to over six-year low of 2.1 per cent in June, nearing the RBI's comfort zone, on account of subdued prices of food items, including vegetables, driven by widespread monsoon.
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