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BW Businessworld

Sensex Rebounds From Day's Low; Closes 77 Pt Higher

Shares of the Adani group tumbled the most in the Midcap space after a report suggested that NSDL froze three FPI accounts.

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The BSE Sensex on Monday, June 14 staged a rebound of 615 points after hitting the day's low of 51,936.31 owing to heavy selling in frontline blue-chip stocks. At close, Sensex was up by 76.77 points at 52,551.53, while the Nifty-50 index closed higher by 12.50 points at 15,811.85.

Sentiments in the traders turned a little skeptical as former RBI Governor D Subbarao raised concerns about the country's economic recovery being " very uneven" and "sharpening inequities" between upper- and lower-income people, said experts.

In the afternoon session, healthy buying was witnessed in energy and oil & gas stocks which led the indices to end marginally higher. The 30-share pack marked gains in 15 shares with Reliance, Bajaj Finance, and ONGC being the top gainers adding over a per cent each.

However, the broader markets failed to post a comeback as selling pressure from upper levels kept the momentum dented in the space. The BSE Midcap and Smallcap indices ended lower by 156 and 40 points, respectively. Shares of the Adani group tumbled the most in the Midcap space after a report suggested that NSDL froze three FPI accounts. The group's stocks' tumbled 4-6 per cent in the day's trade.

In the overall market breadth, 1624 shares advanced, 1625 shares declined, and 150 shares were unchanged.

Moving ahead experts feel that investors are looking forward to the Federal Reserve's next meeting this week and hoping for fresh clues about monetary policy in light of the US economy's blistering recovery.


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sensex stockmarket adani group