Benchmark equity indices Nifty50 and BSE Sensex saw a sharp rebound on Thursday, erasing sharp intraday losses to close higher, helped by value buying in IT and banking stocks and a strong recovery in the rupee.The 30-share BSE Sensex rose 185.23 points, or 0.25 per cent, to settle at 73,319.55 after falling 1,588 points in early trade to a low of 71,545.81. The index rebounded more than 2,000 points from its lowest level during the day, reaching a high of 73,568.54 in late trading.The NSE Nifty index also recovered from sharp losses to close at 22,713.10, up 33.70 points or 0.15 per cent. The index had fallen 496.85 points, or 2.19 percent, earlier in the session before rising to its highest level during the day at 22,782.30 points.Market sentiment improved after a sharp recovery in the rupee, which strengthened by 188 paise to briefly touch the 92 level against the US dollar before settling over 150 paise higher. This recovery came in the wake of regulatory measures taken by the Reserve Bank aimed at achieving currency stability.Bargain buying in IT stocks led the gains, with HCL Technologies and Tech Mahindra rising around 3 per cent each.
Nifty50 Top Gainers
- HCL Tech (+3.53%)
- Tech Mahindra (+2.64%)
- Infosys (+1.97%)
- Wipro (+1.96%)
- Tata Consumer (+1.78%)
- TCS (+1.77%)
- Hindalco (+1.29%)
- Bajaj Finance (+1.17%)
- Hadafak Bank (+1.17%)
- Maruti Suzuki (+0.98%)
Nifty50 biggest losers
- Eicher Motors (-2.58%)
- Asian Paints (-2.56%)
- Eternal (-2.03%)
- Sun Pharma (-2.02%)
- Bajaj Auto (-1.55%)
- Max Healthcare (-1.50%)
- NTPC (-1.38%)
- Omani Riyal (-1.37%)
- HDFC Live (-1.20%)
- Gerasim Industries (-1.11%)
BSE Sensex top gainers
- HCL Tech (+3.53%)
- Tech Mahindra (+2.64%)
- Infosys (+1.97%)
- TCS (+1.77%)
- Bajaj Finance (+1.17%)
- Hadafak Bank (+1.17%)
- Maruti Suzuki (+0.98%)
- Titan Company (+0.78%)
- Bharat Electronics (Belgium) (+0.70%)
- Trent (+0.69%)
BSE Sensex Biggest Losers
- Asian Paints (-2.56%)
- Eternal (-2.03%)
- Sun Pharma (-2.02%)
- NTPC (-1.38%)
- Omani Riyal (-1.37%)
- Energy Grid (-0.98%)
- Ultra Tech Cement (-0.88%)
- M&M (-0.66%)
- Adani Ports Special Economic Zone (-0.57%)
- Bajaj Finserv (-0.39%)
Vinod Nair, head of research at Geojit Investments Ltd, said Indian stock markets opened lower as Trump’s renewed threat to hit Iran “very hard” erased the optimism built in the previous session, leading to widespread selling in Asian markets.
“The RBI’s dual regulatory measures – capping net open rupee positions of banks and banning National Development Fund (NDF) offers to corporates – although disrupting banking operations in the near term, have achieved their intended effect, mechanically forcing the unwinding of the dollar and engineering a significant rupee recovery,” he added.Global signals remained weak after US President Donald Trump said in a national address that the US would continue to strike Iran “very hard” and “finish the job” soon.Crude oil prices rose more than 7 percent, with Brent crude trading up 7.28 percent at $108.52 a barrel.Asian markets ended lower, with South Korea’s Kospi down 4.47 percent, Japan’s Nikkei 225 down 2.40 percent, Shanghai’s SSE Composite Index down 0.74 percent, and Hong Kong’s Hang Seng Index losing 0.70 percent.European markets were also in the red, with Germany’s DAX down 1.71 percent, the CAC 40 in Paris down 0.98 percent, and the FTSE 100 in London down 0.12 percent.Foreign institutional investors (FIIs) sold shares worth Rs 8,331.15 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 7,171.80 crore.In the previous session, the Sensex rose 1,186.77 points to close at 73,134.32, while the Nifty rose 348 points to settle at 22,679.40.
