Sensex gains by 194.57 pts
Business

Sensex bounces back at 36,526.14 pts on gains in IT, banking stocks

Mumbai, Oct 1: The BSE Sensex bounced back in a volatile trade on Monday by 299 points to end positive at 36,526.14, snapping the losing streak of last three sessions, led by gains in information technology (IT) and banking counters.

The Nifty of National Stock Exchange (NSE) also went up by 77.85 points to 11,008.30. In a highly volatile trade witessed during the day today, the Sensex edged up by 47 points to 36,274.25 in the morning session. It then rallied by 389 points to touch day's high of 36,616.64, only to nosedive later by nearly 267 points to hit day's low of 35,960.65, before closing firm in late trade at 36,526.14, gaining by 299 points as compared to its previous close. The Nifty recorded day's high and low at 11,035.65 and 10,821.55 points, respectively.

The sectoral indices such as IT, Utilities, Finance, Power and Technology increased that pushed the market up, along with scrips of Yes Bank, Tata Motors DVR, TCS, HDFC and SBI.

While selling in Bharti Airtel, Axis Bank, IndusInd Bank and Reliance Industries capped its futher gains, brokers informed. The broader markets ended mixed, as the BSE Mid-Cap index went up by 0.53 per cent. The Small-Cap index shed by 0.25 pc. Both these indices underperformed the Sensex. The market breadth was negative on BSE, as 1,060 shares advanced against 1,607 declined and 188 were unchanged.

Globally, European stocks were trading positive as investors digested news of a trade agreement between the US, Canada and Mexico. US President Donald Trump has reached a deal with Canada and Mexico to update the existing North American Free Trade Agreement (NAFTA), according to a senior US administration official. The new deal has been deemed the United States-Mexico-Canada Agreement (USMCA). Most Asian stocks closed mixed. UNI