D-Street ends 6-Day losing streak as China stocks retreat from highs

Mumbai: India's equity benchmarks rebounded on Tuesday, ending their six-day losing streak, as the Chinese market gave up some of its early gains in its first trading session after a week-long holiday with the government not providing additional stimulus to bolster the economy. Analysts said the Indian market was oversold after the recent declines triggered by heavy selling by foreign investors amid signs of a recovery in Chinese stocks.

NSE's Nifty rose 217.4 points or 0.9% to close at 25,013. BSE's Sensex rose 584.8 points or 0.7% to end at 81,635.

Elsewhere in Asia, China advanced 4.6%, while Hong Kong, considered a proxy for China in the past week because of the holiday in mainland markets, plunged 9.4%, the biggest single-day fall since 2008. South Korea declined 0.6% and Taiwan dropped 0.4%.


China's main index opened almost 10% higher on Tuesday, but the rally fizzled out as investors were disappointed after the highly anticipated news conference by the chairman of China's National Development and Reform Commission Zheng Shanjie did not announce more plans to boost the economy. The Chinese government has announced some big-bang measures in recent weeks to revive its economy, prompting foreign investors to relook at its beaten-down equities.