Markets rebound in afternoon trade, Sensex closes at 36,616

Mumbai: Scrips rebounded in afternoon trading on Tuesday after dipping marginally as investors remained cautious ahead of the Reserve Bank of India’s monetary policy meet due from February 5 to 7.

The S&P BSE Sensex closed 34 points up at 36,616 while the Nifty 50 closed 22 points higher at 10,934.

At the Bombay Stock Exchange, auto stocks rose following January sales numbers. Hero MotoCorp led the pack and closed 2.6 percent higher at Rs 2,855.40.

Banking stocks also shored up with IndusInd Bank closing 2.5 percent higher at Rs 1,539.

The shares of Punjab National Bank (PNB) settled at Rs 73.45, up 0.41 percent on the public sector lender reported net profit at Rs 246 crore for December quarter of the financial year 2018-19.

Investors await a meeting of the RBI’s Monetary Policy Committee (MPC) later this week which will take a crucial call on the interest rates cut.

Meanwhile, Asian stocks extended gains while the dollar held firm on last week’s upbeat US employment data.