Stock Market News: Sensex Rebounds, Rises 180 Points; Nifty Near 22,450. Kotak Bank Plunges 10%

Stock Market News: On the 30-share Sensex platform, Axis Bank, HCLTech, Sun Pharma, SBI, ICICI Bank, HCL Tech emerged gainers

Stock Market News: In the broader market, the BSE Midcap advanced 0.1 per cent, while the SmallCap jumped 0.3 per cent.

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Stock Market News: The two key equity benchmarks, Sensex and Nifty, on Thursday rebounded after beginning the session on a negative note. At 10.30 am, the BSE Sensex gained 180 points to 74,029. On the other hand, the NSE Nifty50 was trading at 22,447, up 44 points.

Stock update

On the 30-share Sensex platform, Axis Bank, HCLTech, Sun Pharma, SBI, ICICI Bank, HCL Tech emerged gainers. On the down side, Kotak Bank plunged 10 per cent after the Reserve Bank of India barred the private lender from issuing new credit cards. HUL, Bajaj Finance, Maruti, Asian Paints, Titan were among the losers.

In the broader market, the BSE Midcap advanced 0.1 per cent, while the SmallCap jumped 0.3 per cent.

Sectoral update

Among sectors, capital goods, oil & gas, pharma, PSU Bank up 0.4-1.5 percent, while realty index down nearly 1 percent.

In the previous session on Wednesday, the S&P BSE Sensex closed at 73,853, up 114 points, while the NSE Nifty50 settled at 22,402, rising 34 points.

Global market update

In Asian markets, Seoul and Tokyo were quoting lower, while Shanghai and Hong Kong traded in the positive territory. Wall Street ended on a mixed note on Wednesday.

Global oil benchmark Brent crude climbed 0.02 per cent to $88.04 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,511.74 crore on Wednesday, according to exchange data.