Market benchmark indices Sensex and Nifty rebounded on Thursday after a heavy correction in the previous session amid foreign fund inflows and a largely positive trend in global markets.
However, caution prevailed in the market as the<a href="https://www.mid-day.com/news/world-news/article/us-launches-fresh-airstrikes-on-iran-as-tehran-targets-gulf-states-23638960" target="_blank" rel="none noopener"> United States and Iran exchanged strikes for a second consecutive day</a>, an expert said.
The 30-share BSE Sensex climbed 238.22 points, or 0.31 per cent, to settle at 76,741.82. During the day, it jumped 823.05 points, or 1.07 per cent, to 77,326.65.
The 50-share <a href="https://www.mid-day.com/business/business-news/article/national-stock-exchange-core-revenue-slips-ahead-of-ipo-as-trading-volumes-weaken-23638845" target="_blank" rel="none noopener">NSE </a>Nifty went up by 80.75 points, or 0.34 per cent, to end at 23,962.80. From the Sensex pack, Sun Pharma, Bharti Airtel, Bajaj Finserv, InterGlobe Aviation, Eternal and Kotak Mahindra Bank were among the major winners.
Infosys, Maruti, NTPC and Axis Bank were among the laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,962.80 crore on Wednesday, according to exchange data. Brent crude, the global oil benchmark, traded marginally higher by 0.15 per cent to USD 78.14 per barrel.
"Indian equity markets staged a moderate rebound, aided by supportive global cues, though investors remained watchful of the geopolitical developments that had triggered the last trading day's sell-off," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The recovery was led by mid and smallcap stocks, with realty and PSU banks bouncing back strongly after their recent correction, he added.
On Wednesday, the Sensex tanked 1,677.12 points, or 2.15 per cent, to settle at 76,503.60. On similar lines, the Nifty tumbled 516.65 points, or 2.12 per cent, to end at 23,882.05.
In Asian markets, South Korea's Kospi, <a href="https://www.mid-day.com/business/business-news/article/japans-nikkei-index-has-its-worst-day-in-decades-as-world-markets-quake-over-risks-to-us-economy-23372014#google_vignette" target="_blank" rel="none noopener">Japan's Nikkei </a>225 index and Shanghai's SSE Composite index rebounded and settled in the green, while Hong Kong's Hang Seng index ended lower.
Markets in Europe were trading mostly in positive territory.
"Indian equity markets staged a partial rebound on bargain buying after the previous session's sharp Middle East-driven sell-off. However, investor sentiment remained cautious as the United States and Iran exchanged strikes for a second consecutive day, casting doubt over the prospects for diplomatic talks and keeping risk appetite subdued," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said. US markets ended mostly lower on Wednesday.&nbsp;
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Despite the West Asia crisis, the Sensex and Nifty gained 238 points and 80.75 points respectively

Stock Markets rebound, Sensex gains 238 points

Rupee continues to rise, gains 15 paise against US dollar at opening

Market benchmark indices Sensex and Nifty rebounded on Thursday after a heavy correction in the previous session amid foreign fund inflows and a largely positive trend in global markets

Sensex climbs 238 points, Nifty gains 80.75 points, amid West Asia crisis

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Home / Business / Business News / Article / Sensex climbs 238 points, Nifty gains 80.75 points, amid West Asia crisis