Markets rebound in early trade after sharp decline in previous session

Benchmark equity indices Sensex and Nifty rebounded in early trade on Tuesday after a sharp decline in the previous session driven by buying in blue-chip stocks like Reliance Industries and ICICI Bank.

The 30-share BSE benchmark Sensex jumped 422.62 points to 78,387.61 in early trade. The NSE Nifty climbed 160.2 points to 23,776.25.

From the 30-share blue-chip pack, Titan, Adani Ports, IndusInd Bank, ICICI Bank, Reliance Industries, Asian Paints, Power Grid and Tata Motors were among the biggest gainers.

Zomato emerged as the only laggard.

In Asian markets, Seoul and Tokyo traded in the positive territory while Shanghai and Hong Kong quoted lower.

US markets ended mostly higher on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,575.06 crore on Monday, according to exchange data.

Global oil benchmark Brent crude dipped 0.14 per cent to USD 76.19 a barrel.

The BSE benchmark tanked 1,258.12 points or 1.59 per cent to close below the 78,000 level at 77,964.99 on Monday. The Nifty slumped 388.70 points or 1.62 per cent to 23,616.05.