Markets rebound in early trade amid recovery in global equities

Mumbai, September 29

Benchmark indices rebounded in early trade on Thursday with the BSE Sensex climbing 567.86 points amid recovery in global equity markets.

The 30-share BSE benchmark jumped 567.86 points to 57,166.14 after a firm beginning. Similarly, the broader NSE Nifty climbed 167.45 points to 17,026.05.

Among the 30-share Sensex pack, Tata Steel, ITC, IndusInd Bank, NTPC, Axis Bank, Sun Pharma, Mahindra & Mahindra and State Bank of India were major winners in early trade.

Asian Paints and Maruti Suzuki India were the laggards.

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.

“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.

Volatility may remain at elevated levels in Indian markets on account of monthly expiry, he added.

The BSE benchmark fell 509.24 points or 0.89 per cent to settle at 56,598.28 on Wednesday. The Nifty declined 148.8 points or 0.87 per cent to end at 16,858.6.

Meanwhile, the international oil benchmark Brent crude dipped 0.45 per cent to USD 88.92 per barrel.

Foreign institutional investors offloaded shares worth Rs 2,772.49 crore on Wednesday, according to data available with BSE.