Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance

Equity benchmark indices Sensex and Nifty rebounded in early deals on April 29 in tandem with a rally in global markets and buying in ICICI Bank and Reliance Industries.
| Photo Credit: The Hindu

Equity benchmark indices Sensex and Nifty rebounded in early deals on April 29 in tandem with a rally in global markets and buying in ICICI Bank and Reliance Industries.

The 30-share BSE Sensex jumped 411.15 points to 74,141.31 in early trade. The NSE Nifty went up by 94.2 points to 22,514.15.

From the Sensex basket, ICICI Bank climbed nearly 2% after the company on April 27 said its March quarter consolidated net profit grew 18.5% to ₹11,672 crore, helped by lower provisions.

IndusInd Bank, Tech Mahindra, Maruti, Sun Pharma, Reliance Industries and Tata Steel were the other major gainers.

HCL Technologies, Mahindra & Mahindra, ITC and Power Grid were the laggards.

In Asian markets, Seoul, Shanghai and Hong Kong were trading in the positive territory.

Wall Street ended with gains on April 26.

Global oil benchmark Brent crude declined 0.89% to $88.70 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,408.88 crore on April 26, according to exchange data.

The BSE benchmark tanked 609.28 points or 0.82% to settle at 73,730.16 on April 26. The NSE Nifty declined 150.40 points or 0.67% to 22,419.95.