Markets Bounce In Early Trade; Sensex And Nifty Set New Highs

Benchmark equity indices rallied after two consecutive days of losses on Thursday, with Sensex and Nifty reaching all-time highs as investors rushed to value-buy bellwether stocks ahead of quarterly earning reports amid mixed global trends.

The 30-share BSE Sensex climbed 497.06 points or 0.67 percent to an all-time high of 74,373.88. The NSE Nifty soared 144.70 points or 0.64 percent to reach a new high of 22,579.35.

Both indices had closed lower in the previous two sessions.

The Sensex reached its previous peak on April 1 at 74,254.62. It ended the session at 74,014. On the same day, Nifty reached its highest closing level of 22,462.

Among the gainers were HDFC Bank, NTPC, PowerGrid, Tata Steel, and Axis Bank.

IndusInd Bank and ICICI Bank were the only two stubborn institutions.

In Asian markets, South Korea’s Kospi and Japan’s Nikkei 225 were trading in the green, while Hong Kong’s Hang Seng and China’s Shanghai Composite were trading in the red.

Brent crude gained 0.37 percent to USD 88.68 a barrel.

European markets finished Wednesday’s session in green.

The US markets concluded on a mixed note.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities equities worth Rs 2,213.56 crore on Wednesday.

On Wednesday, the BSE benchmark Sensex fell 27.09 points or 0.04 percent to 73,876.82, while the NSE Nifty dropped 18.65 points or 0.08 percent to 22,434.65.

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