Stock Market Snaps Six-Day Losing Streak. Sensex Rises 256 Points, Nifty At 16,944 Tracking Positive Cues
Stock update: Tata Steel, ITC, IndusInd Bank, NTPC, Axis Bank, Sun Pharma, Mahindra & Mahindra, and State Bank of India were major winners in early trade on the Sensex platform
Sensex and Nifty, the two key equity benchmarks, on Thursday snapped the six-day losing streak and rebounded in early trade, tracking positive global sentiments.
At 11 am, the BSE Sensex rose 256 points to 56,855, while the broader NSE Nifty climbed was trading at 16,944, up 85 points.
On the 30-share Sensex platform, Tata Steel, ITC, IndusInd Bank, NTPC, Axis Bank, Sun Pharma, Mahindra & Mahindra, and State Bank of India were major winners in early trade. On the flip side, Asian Paints, Titan, TechM, and Maruti Suzuki India were the laggards.
In the broader markets, benchmark indices, Nifty MidCap 100 and Nifty SmallCap 100 indices, surged over 1 per cent each.
The sentiment of the 30-share Sensex stood positive as 22 scrips were advancing, while rest eight were declining.
Bullish sentiments steered all sectors into positive territory. Nifty Media, Nifty Metal, and Nifty PSU Bank indices advanced in the range of 1 per cent to 2 per cent.
In the previous session on Wednesday, the BSE benchmark fell 509 points (0.89 per cent) to settle at 56,598, while the broader Nifty declined 148 points (0.87 per cent) to end at 16,858.
"US markets ended higher on Wednesday following a sell-off in past few sessions. European markets also closed in the green. All the major Asian markets are trading positive in early Thursday trade," said Mohit Nigam, Head - PMS, Hem Securities.
Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai, and Hong Kong were trading in the green. The US markets also bounced back on Wednesday and ended higher.
Volatility may remain at elevated levels in Indian markets on account of monthly expiry, he added.
Meanwhile, the international oil benchmark Brent crude dipped 0.45 per cent to $88.92 per barrel.
Foreign institutional investors offloaded shares worth Rs 2,772.49 crore on Wednesday, according to data available with the BSE.
Trending News
Top Headlines
