Markets rebound in early trade after 5 days of decline

Mumbai, May 31

Equity benchmark indices rebounded in early trade on Friday, after falling for the past five days, amid a rally in Asian markets along with buying in index majors Larsen & Toubro and Mahindra & Mahindra.

The 30-share BSE Sensex climbed 550.22 points to 74,435.82 in early trade. The NSE Nifty went up by 147.15 points to 22,635.80.

In the five days of fall, the BSE benchmark tanked 1,532 points or 2 per cent.

From the Sensex basket, Larsen & Toubro, Mahindra & Mahindra, Bajaj Finance, UltraTech Cement, NTPC, IndusInd Bank, Tata Motors and Titan were the major gainers.

Infosys, Bharti Airtel, Kotak Mahindra, Tata Consultancy Services and HCL Technologies were among the laggards.

The electioneering for the ongoing general elections halted on Thursday ahead of the last phase of polling to be held on Saturday.

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

Wall Street ended lower on Thursday.

Global oil benchmark Brent crude went lower 0.34 per cent to USD 81.58 a barrel.