Stock Markets Rebound in Early Trade Tracking Rally in Global Peers
From the Sensex pack, Adani Ports, Reliance Industries, NTPC, Bharat Electronics, Tata Steel and Larsen & Toubro were among the major gainers
Mumbai: Stock market benchmark indices Sensex and Nifty bounced back in early trade on Thursday tracking a rebound in global equities, after facing heavy losses in the past few trading sessions due to the conflict in West Asia. The 30-share BSE Sensex jumped 550.27 points to 79,666.46 in early trade. The 50-share NSE Nifty climbed 171.45 points to 24,651.95.
From the Sensex pack, Adani Ports, Reliance Industries, NTPC, Bharat Electronics, Tata Steel and Larsen & Toubro were among the major gainers.
HCL Tech, Tech Mahindra, ICICI Bank and Asian Paints were among the laggards.
Brent crude, the global oil benchmark, jumped 2.86 per cent to USD 83.73 per barrel.
In Asian markets, South Korea's Kospi rebounded sharply and jumped 10 per cent. Japan's Nikkei 225, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were also quoting higher.
The US market ended in positive territory on Wednesday.
"On the global front, US markets ended the previous session on a firm note, while South Korea's Kospi index is trading sharply higher, gaining more than 10 per cent, offering some supportive external cues," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,752.65 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 12,068.17 crore, according to exchange data.
On Wednesday, the Sensex tumbled 1,122.66 points or 1.40 per cent to settle at 79,116.19, falling for the fourth straight session. The Nifty dived 385.20 points or 1.55 per cent to end at 24,480.50, registering its third day of decline.
