Stock markets rebound tracking rally in global peers
Benchmark stock indices Sensex and Nifty bounced back on Thursday, closing higher by more than 1 per cent in line with a rebound in global equities after recent sharp losses due to the conflict in West Asia.Snapping its four-day decline, the 30-share BSE Sensex rebounded 899.71 points or 1.14 per cent to settle at 80,015.90. During the day, it surged 1,187.64 points or 1.50 per cent to 80,303.83. The 50-share NSE Nifty climbed 285.40 points or 1.17 per cent to end at 24,765.90, ending its three-day falling streak.
From the Sensex pack, Adani Ports, Larsen & Toubro, NTPC, Reliance Industries, Bharat Electronics and InterGlobe Aviation were among the major gainers. Tech Mahindra, HCL Tech, Hindustan Unilever and ICICI Bank were among the laggards. Brent crude, the global oil benchmark, jumped 1.84 per cent to $82.90 per barrel. In Asian markets, South Korea’s Kospi rebounded sharply by 9.63 per cent. Japan’s Nikkei 225, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index also ended higher. Markets in Europe were quoting higher. The US market ended in positive territory on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth INR 8,752.65 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth INR 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.
