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

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Benchmark stock indices Sensex and Nifty rebounded to close over 1 per cent higher on Thursday, propelled by buying in index majors Reliance Industries, HUL and Infosys along with an overall positive trend in global markets.

The 30-share BSE benchmark jumped 701.67 points or 1.23 per cent to end at 57,521.06. During the day, it zoomed 971.46 points or 1.70 per cent to 57,790.85 on the expiry of derivatives contracts.

The NSE Nifty rallied 206.65 points or 1.21 per cent 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 major gainers in the Sensex pack.

In contrast, Bharti Airtel, M&M, HCL Technologies and HDFC Bank were the laggards.

The rally in domestic stocks was fuelled by gains in global markets. Stock markets in Tokyo, Hong Kong, Shanghai and Seoul ended with healthy gains.

Markets in Europe were trading in the green in the afternoon session. Stocks in the US had ended mostly higher on Wednesday.

The Sensex had tumbled 537.22 points or 0.94 per cent to end at 56,819.39 points on Wednesday. The NSE Nifty declined 162.40 points or 0.94 per cent to 17,038.40 points.

Meanwhile, international oil benchmark Brent crude slipped 0.07 per cent to USD 105.33 per barrel.

Foreign institutional investors continued their selling spree, offloading shares worth 4,064.54 crore on Wednesday, according to stock exchange data.




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