Sensex recovers 335 points, Nifty closes above 22,100
Mumbai: Benchmark Sensex rebounded 335 points while Nifty closed above the 22,100 level on Thursday as buying in IT and capital goods shares helped broader markets recover from the previous day’s sharp losses.
The 30-share BSE Sensex climbed 335.39 points or 0.46 per cent to settle at 73,097.28 with 20 of its constituents ending in the green and 10 in the red. During the day, it jumped 602.41 points or 0.82 per cent to 73,364.30. The broader Nifty gained 148.95 points or 0.68 per cent to close at 22,146.65 as 37 of its components settled higher and 13 with losses.
Sensex 906.07 points, or 1.23 per cent while Nifty plunged by 338 points, or 1.51 per cent, to close below the 22,000 level on Wednesday due to heavy selling pressure.
“The market was able to recover half of last trading day’s sell-off as leverage-based square-off neutralised it, while institutional buying sustained the buoyancy,” said Vinod Nair, Head of Research, Geojit Financial Services.
“Wholesale Price Inflation (WPI) eased to a four-month low at 0.2 per cent in February, bringing ease to upcoming CPI trajectory, a relief for future rate cuts,” Nair added.
From the Sensex pack, HCL Technologies rose the most by 2.96 per cent. Gains in Larsen &Toubro, Infosys, Wipro, Bharti Airtel, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints helped key indices to recover losses.
