Stock markets rebound on buying in IT companies & Reliance, foreign fund inflows

Mumbai: Stock markets rebounded on Thursday with the benchmark Sensex climbing 398 points following buying in IT firms and blue-chip Reliance Industries amid foreign fund inflows.

The 30-share BSE Sensex climbed 398.44 points or 0.49 per cent to settle at 82,172.10.

The 50-share NSE Nifty jumped by 135.65 points or 0.54 per cent to 25,181.80.

Among Sensex firms, Tata Steel rose the most by 2.65 per cent after the company reported a 7 per cent rise in domestic crude steel production. HCL Tech, UltraTech Cement, Bharat Electronics, Sun Pharma and Tata Consultancy Services were the major gainers.Infosys rose nearly 1 per cent while Reliance Industries advanced 0.78 per cent, supporting the recovery in key indices from the previous day’s losses. However, Axis Bank, Titan, Maruti and Tata Motors were among the laggards.

The BSE midcap gauge jumped 0.75 per cent and smallcap index climbed 0.18 per cent.

All sectoral indices ended higher. Metal surged 2.16 per cent, followed by commodities (1.34 per cent), BSE Focused IT (1.13 per cent), IT (1.02 per cent), services (0.87 per cent), healthcare (0.84 per cent) and capital goods (0.78 per cent).

As many as 2,099 stocks advanced while 2,080 declined and 171 remained unchanged on the BSE. The rupee traded with a slight negative bias and hovered near its all-time low levels before settling for the day at 88.79 against the US dollar, lower by 4 paise

on Thursday.