Markets rebound amid gains in global equities; Sensex gains 702 points

Benchmark stock indices, the Sensex and Nifty, rallied to close over 1% higher on Thursday, buoyed by buying in index majors Reliance Industries, HUL and Infosys and an overall positive trend in global markets.

The 30-stock BSE benchmark rose 701.67 points, or 1.23%, to end at 57,521.06. On the day, it rose 971.46 points, or 1.70%, to 57,790.85 on derivatives contracts expiry.

The NSE Nifty rose 206.65 points, or 1.21%, to 17,245.05.

Hindustan Unilever Limited, Asian Paints, NTPC, Power Grid, Larsen & Toubro, State Bank of India, Infosys, Axis Bank and Reliance Industries were among the big winners in the Sensex package.

In contrast, Bharti Airtel, M&M, HCL Technologies and HDFC Bank lagged behind.

The rally in domestic equities was fueled by gains in global markets. Stock markets in Tokyo, Hong Kong, Shanghai and Seoul closed with healthy gains.

Markets in Europe traded in the green for the afternoon session. Stocks in the United States ended mostly higher on Wednesday.

The Sensex was down 537.22 points, or 0.94%, to 56,819.39 points on Wednesday. The NSE Nifty fell 162.40 points, or 0.94%, to 17,038.40 points.

Meanwhile, international benchmark Brent oil slipped 0.07% to $105.33 a barrel.

Overseas institutional investors continued their selling spree, selling ₹4,064.54 crore of shares on Wednesday, stock market data shows.

Leave a Reply

Your email address will not be published. Required fields are marked *