Bourses bounce back propelled by buying in RIL, HUL & Infosys

Mumbai: Benchmark stock indices Sensex and Nifty rebounded by over 1 per cent 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 amid the expiry of the derivatives contracts.

The NSE Nifty rallied 206.65 points or 1.21 per cent to 17,245.05 as 45 of its stocks ended in green.

Among Sensex scrips, Hindustan Unilever spurted the most by 4.55 per cent after the company posted better-than-expected financial results for the fourth quarter of FY22. HUL posted an 11 per cent growth in domestic business on a flat volume growth due to a high base effect.

Reliance Industries rose by 1.49 per cent after a tripartite partnership of investment venture Bodhi Tree Systems, Viacom18 and Reliance Projects & Property Management Services Ltd was announced on Wednesday.

Reliance also became the first Indian company to cross a market valuation of $250 billion.

Among other gainers, Asian Paints jumped 3.18 per cent, PowerGrid by 2.79 per cent, NTPC by 2.67 per cent and L&T by 2.47 per cent.

SBI rose by 2.02 per cent, Infosys by 1.94 per cent, Axis Bank by 1.81 per cent, Sun Pharma by 1.6 per cent, ITC by 1.4 per cent and ICICI Bank by 1.39 per cent.

Kotak Bank, IndusInd Bank, Maruti, Bajaj Finserv, Tata Steel and Dr Reddy's also advanced. In contrast, Bharti Airtel, M&M, HCL Technologies and HDFC Bank were the laggards.

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.

The rupee declined by 4 paise to settle at 76.61 against the US dollar on Thursday.