Markets rebound after 2-day slump; L&T top boost

Bombay Stock Exchange (BSE) in Mumbai. File
| Photo Credit: REUTERS

Equity benchmark indices Sensex and Nifty rebounded sharply on Thursday after sliding for the past two sessions, propelled by bargain hunting in capital goods, banking, and IT stocks amid a sharp correction in global crude prices.

The 30-share BSE Sensex climbed 405.53 points or 0.62% to settle at 65,631.57. During the day, it rallied 527.16 points or 0.80% to 65,753.20.

Nifty advanced 109.65 points or 0.56% to end at 19,545.75.

Larsen & Toubro was the biggest gainer in the Sensex pack, rising 2.35%, followed by Titan, Tata Consultancy Services, Maruti, Mahindra & Mahindra, Infosys, ICICI Bank and Asian Paints.

In contrast, Power Grid, Nestle, NTPC, HCL Technologies and Bajaj Finance were among the laggards.

In Asian markets, Tokyo and Hong Kong settled in the green, while Seoul ended lower. Trading was closed in Shanghai for a holiday.

European markets were trading on a mixed note. The U.S. markets ended in positive territory on Wednesday.

Global oil benchmark Brent crude declined 0.89% to $85.05 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,424.02 crore on Wednesday, according to exchange data.

The BSE benchmark declined 286.06 points or 0.44% to settle at 65,226.04 on Wednesday. Nifty slipped 92.65 points or 0.47% to end at 19,436.10.