Mumbai: Benchmark equity indices Sensex and Nifty rebounded on Thursday after three sessions of losses, tracking gains in global markets after US President Donald Trump struck a conciliatory tone on Greenland and hinted at a good trade deal with India.
Besides, a mild recovery in the rupee and a correction in global crude prices supported the domestic markets, traders said.
In a volatile session, the 30-share BSE Sensex climbed 397.74 points, or 0.49 per cent, to close at 82,307.37. During the day, the benchmark surged by 873.55 points, or 1.06 per cent, to hit an intraday high of 82,783.18, but failed to sustain higher levels due to selling pressure at elevated levels.
The 50-share NSE Nifty rose 132.40 points, or 0.53 per cent, to settle at 25,289.90. In the intraday session, the index appreciated by 278.25 points, or 1.10 per cent, to hit a high of 25,435.75. The trend clearly showed weak follow-through buying at higher zones.
Among the 30 Sensex constituents, Bharat Electronics Ltd, Tata Steel, Adani Ports, State Bank of India, Bajaj Finserv, Asian Paints, Power Grid, Sun Pharmaceuticals, Kotak Mahindra Bank, IndiGo, Hindustan Unilever, HCL Technologies and NTPC were the gainers.
On the other hand, Eternal, Titan, ICICI Bank, Maruti Suzuki India, and HDFC Bank were among the laggards.
Indian equity markets ended Thursday with moderate gains after paring early advances, supported by positive global cues and easing geopolitical concerns.
The BSE midcap gauge rose 1.28 per cent, and the smallcap index went up by 1.13 per cent.
Among sectoral indices, PSU Bank rose the most by 2.43 per cent, followed by Capital Goods by 2.03 per cent, Industrials by 1.78 per cent, Utilities by 1.57 per cent, Services by 1.45 per cent, Power by 1.43 per cent, Metal by 1.34 per cent, FMCG by 1.22 per cent, Commodities by 1.15 per cent, and Healthcare by 1.11 per cent.
Consumer Durables and Realty were the only laggards.
The rupee rebounded marginally from its all-time low levels and gained 7 paise to close at 91.58 against the US dollar on Thursday, on suspected RBI intervention and a positive trend in domestic equities.
Foreign institutional investors offloaded equities worth Rs 1,787.66 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 4,520.47 crore, according to exchange data.