Mumbai: Equity benchmark indices Sensex and Nifty rebounded in early trade on Thursday, supported by buying in blue-chip Reliance Industries, IT majors, and sustained foreign fund inflows.
The 30-share BSE Sensex advanced 201.23 points to 81,974.89, while the NSE Nifty gained 63.5 points to 25,109.65.
Among the major gainers on the Sensex were Tata Steel, HCL Tech, Sun Pharma, Mahindra & Mahindra, Reliance Industries, Larsen & Toubro, Axis Bank, Hindustan Unilever, and Infosys. In contrast, Power Grid, Bajaj Finance, Titan, and NTPC were among the laggards.
According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth ₹81.28 crore on Wednesday.
In Asian markets, Japan’s Nikkei 225 traded higher, while Hong Kong’s Hang Seng was in the red. Markets in China and South Korea remained shut for holidays. US markets ended mostly higher on Wednesday.
“The results season beginning today will be closely tracked by investors. Although IT stocks have seen some recovery from the lows, headwinds for the sector remain strong,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Global oil benchmark Brent crude slipped 0.50% to USD 65.92 per barrel.
“Record highs on Wall Street have kept the risk-on sentiment intact at Dalal Street. Nifty’s next target is seen at 25,670, with support near 24,901,” said Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.
On Wednesday, the Sensex had fallen 153.09 points (0.19%) to close at 81,773.66, while the Nifty declined 62.15 points (0.25%) to settle at 25,046.15.
