Mumbai Sep 25 (IANS) After shuttling between the red and the green through the day the key Indian equity indices finally ended their five-day losing streak and closed nearly one per cent higher on Tuesday as investors took to bargain buying.
The S&P BSE Sensex ended nearly 350 points higher and the NSE Nifty50 was able to regain the 11 000-mark.
Although the session was largely volatile buying picked up in the last hour of trade which helped the indices close on a positive note.
The Nifty50 on the National Stock Exchange provisionally closed at 11 067.45 points higher 100.05 points or 0.91 per cent from its previous close.
The BSE Sensex which had opened at 36 350.25 points closed at 36 652.06 points up 347.04 points or 0.96 per cent from its previous close of 36 305.02 points.
It touched an intra-day high of 36 705.79 points and a low of 36 064.10 points.
"Benchmark indices opened the day lower and oscillated around the flat line through the day to finally close with gains of over one per cent " said Abhijeet Dey Senior Fund Manager for Equities at BNP Paribas Mutual Fund.
"Global sentiment was muted as well as investors turned cautious after the latest round of US-China tariffs revived fears that the trade dispute would negatively impact global growth while crude oil (prices) rose to near four-year highs after Saudi Arabia and Russia ruled out immediate production increases " he said.
Brent crude oil is currently around $82 per barrel.
HSFC Securities Head of Retail Research Deepak Jasani said Nifty had opened on a negative note but buying soon resumed as bargain hunting emerged and pushed the index higher.
On the currency front the Indian rupee closed at 72.69 per US dollar weaker six paise from its previous close of 72.63 per greenback.
Investment-wise provisional data with the exchanges showed that foreign institutional investors sold stocks worth Rs 1 231.70 crore and domestic institutional investors bought stocks worth Rs 2 284.26 crore.
The top Sensex gainers were: Axis Bank up 2.96 per cent at Rs 615.25; HDFC up 2.95 per cent at Rs 1 771.75; Kotak Mahindra Bank up 2.88 per cent at Rs 1 182.50; Hindustan Unilever up 2.72 per cent at Rs 1 634.30; and Maruti Suzuki up 2.66 per cent at Rs 8 003.30 per share.
On the other hand major Sensex losers were: Power Grid down 3.07 per cent at Rs 192.35; Yes Bank down 2.83 per cent at Rs 219.85; Coal India down 2.22 per cent at Rs 275.20; Adani Ports down 2.04 per cent at Rs 338.70 and Tata Steel down 1.10 per cent at Rs 599.95 per share.

--IANS rrb/nir