Sensex Rebounds, Nifty Above 8100, IT & FMCG Lead, Hero Up

The current sell-off in market is due to both global and local factors. We are one step away from panic and miles away from recovery. The Indian bull market is over, but it is not yet the time to buy.

However, the current lows would definitely make investors go in for bluechip stocks. The first steps of revival will start with banking sector. Nifty at 7800 to be a comfortable level to enter the market.

The Sensex gained 119.07 points at 26836.44 and the Nifty climbed 21 points to 8118. About 798 shares have advanced, 967 shares declined, and 141 shares are unchanged on the BSE. 

TCS topped the buying list on Sensex, up 2.7 percent followed by Infosys and Bajaj Auto with 2 percent gains. Bharti Airtel, L&T, Coal India and BHEL climbed over 1 percent. ITC and HDFC also supported the market with marginal gains.

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