Sensex rebounds 53 points, Nifty flat

Mumbai: Reversing initial losses, benchmark Sensex gained 53 points in afternoon trade today following fresh buying in metal, power, realty and telecom sectors. However, teck, consumer durables, IT, FMCG and healthcare counters showed weakness.

The BSE Mid-Cap index was up 0.23 percent while the Small-Cap index rose 0.11 percent.

The Sensex resumed higher at 30,616.53 and hovered between 30,642.94 and 30,519.14. It was quoting at 30,636.17 at 1306 hrs, showing a rise of 53.57 points or 0.18 per cent.

The NSE 50-share Nifty was trading flat at 9,512.85, up 0.60 points or 0.01 per cent, at 1306 hrs.

Major gainers were Tata Steel 5.85 per cent, ICICI Bank 1.67 per cent, Bharti Airtel 1.24 per cent and Hero Motocorp 0.93 per cent. However, Wipro fell 1.09 per cent, followed by ITC 0.88 per cent, Adani Ports 0.85 per cent and Infosys 0.81 per cent.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 858.29 crore yesterday, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 401.89 crore yesterday, as per provisional data.

Overseas, equities in Asia lost ground, with the safe- haven yen climbing amid political and legal turmoil surrounding US President Donald Trump.