Markets rebound after taking heavy beating in previous trade

MUMBAI: Equity benchmark indices rebounded in early deals on Tuesday after falling sharply in the previous trade amid strength in the US markets.

The 30-share BSE Sensex climbed 202.72 points to 60,113.47 in early trade. The broader NSE Nifty gained 59.75 points to 17,766.60.

Among the Sensex firms, Tata Motors, HCL Technologies, IndusInd Bank, Maruti, Nestle, Infosys, Kotak Mahindra Bank and Bajaj Finserv were the gainers.

Power Grid, Reliance Industries, Hindustan Unilever, Titan, Bharti Airtel and ITC were among the laggards.

The wholesale price-based inflation eased to a 29-month low of 1.34 per cent in March on easing prices of manufactured products and fuel items, even though food articles turned expensive.

March is the 10th straight month when wholesale price index (WPI) based inflation has declined.

In Asian markets, Seoul, Shanghai and Hong Kong were trading lower, while Japan quoted with gains.

The US markets had ended in the positive territory on Monday.

The Sensex had tanked 520.25 points or 0.86 per cent to settle at 59,910.75 on Monday. The Nifty fell 121.15 points or 0.68 per cent to finish at 17,706.85.

Meanwhile, global oil benchmark Brent crude climbed 0.31 per cent to USD 85.02 per barrel.

Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 533.20 crore on Monday, according to exchange data.