Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets. The 30-share index ended 454 points or 0.78% higher at 58,795. Similarly, the NSE Nifty surged 121 points or 0.70% to close at 17,536.
Reliance Industries was the top gainer in the Sensex pack, soaring over 6 per cent, followed by ITC, Infosys, Tech Mahindra, Titan, Bharti Airtel and PowerGrid. On the other hand, Maruti, ICICI Bank, IndusInd Bank, HUL and L&T were among the laggards.
“Domestic benchmark indices erased early losses to climb higher led by heavyweights and positive sentiments across western peers. However, concerns over rising inflation were visible in the minutes of the recent FOMC meeting signalling higher chances of an aggressive policy tightening. Pharma, IT and realty stocks attracted buyers while banking and auto stocks moved against the trend on the day of monthly expiry,” said Vinod Nair, Head of Research at Geojit Financial Services.
Nifty Energy index led the sectoral pack with gains of 2.40%, followed by the Nifty Realty index that rose 1.95% while Nifty Media and Nifty Pharma advanced 1.40% and 1.18%, respectively. Nifty IT, Nifty Metal and Nifty FMCG indices rose up to 0.96%.
On the downside, the Nifty Auto index tanked 0.54% whereas Nifty Bank slipped 0.21%.
The broader markets rallied in line with benchmark indices as the BSE MidCap index jumped 174 points or 0.69% to 25,675 while the BSE SmallCap index settled at 28,822 higher by 247 points or 0.87%.
Elsewhere in Asia, bourses in Hong Kong and Tokyo ended with gains, while Shanghai and Seoul were in the red.
Stock exchanges in Europe were trading on a positive note in mid-session deals.
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