Sensex, Nifty Rebound After Two-Day Dip, Led by Financials and Power Players

Mumbai: Equity benchmark indices Sensex and Nifty bounced back on Thursday, recording nearly a 1% gain after two consecutive days of decline, primarily driven by robust buying in HDFC Bank and Bajaj Finance.

The 30-share BSE Sensex surged by 490.97 points, or 0.69%, settling at 71,847.57 points. In the day’s trading session, it rallied by 598.19 points, or 0.83%, reaching 71,954.79 points. The Nifty also saw an uptick, climbing 141.25 points, or 0.66%, to 21,658.60 points.

Major contributors to the Sensex’s positive performance included a 4.44% jump in Bajaj Finance and a 3% rise in NTPC. Other significant gainers among Sensex firms were IndusInd Bank, Axis Bank, Tata Motors, Nestle, Power Grid, Infosys, Bajaj Finserv, and HDFC Bank.

However, some companies experienced declines, with HCL Tech, Mahindra & Mahindra, Maruti, and Hindustan Unilever among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong closed in negative territory. Meanwhile, European markets traded in the green, while the US markets ended lower on Wednesday.

The global oil benchmark, Brent crude, saw a 0.92% increase, reaching USD 78.97 per barrel.

Foreign Institutional Investors (FIIs) were net sellers on Wednesday, offloading equities worth Rs 666.34 crore, according to exchange data.