Markets rebound, Sensex up 393 pts, NSE over 15,790

Mumbai: Equity indices regained footing on Thursday after a day's pause as robust buying in IT counters more than made up for a fall in market major Reliance Industries.

A rebounding rupee and positive global cues further bolstered sentiment, traders said.

The 30-share BSE Sensex ended 392.92 points or 0.75 per cent higher at 52,699. Similarly, the broader NSE Nifty surged 103.50 points or 0.66 per cent to 15,790.45.

Technology shares led the rally, a day after the government liberalised guidelines for voice-based BPOs to cement India's position as a preferred global outsourcing hub.

Infosys topped the Sensex gainers' chart with a leap of 3.75 per cent, followed by TCS, Tech Mahindra, HCL Tech, Asian Paints, L&T and Nestle India.

On the other hand, Reliance Industries was the top drag on the index, slumping 2.35 per cent, after its Chairman Mukesh Ambani announced massive capex plans in green energy and other sectors at its annual general meeting.

Bharti Airtel, PowerGrid, SBI, HDFC and Dr Reddy's were among the other laggards, shedding up to 0.99 per cent.

BSE IT, teck, bankex, metal, capital goods and finance indices ended up to 2.92 per cent higher, while energy, oil and gas, power, utilities and telecom indices fell as much as 2.15 per cent.

Broader BSE midcap and smallcap indices underperformed the benchmark and ended up to 0.51 per cent lower.

Meanwhile, international oil benchmark Brent crude was trading 0.16 per cent higher at $75.31 per barrel.

The rupee gained for the second straight day and closed 9 paise higher at 74.18 against the US dollar.