Sensex Rises 358 Points As Investors Buy HDFC Bank And Reliance Industries

The Sensex and Nifty rebounded more than half a cent on Thursday, thanks to buying in index heavyweights HDFC Bank and Reliance Industries.

The 30-share BSE Sensex climbed 358.79 points or 0.51 percent to 70,865.10. The barometer began lower and sank 585.92 points or 0.83 percent to 69,920.39. However, markets recovered their winning momentum in the afternoon session, rising 452.4 points or 0.64 percent to 70,958.71.

The Nifty rose 104.90 points, or 0.5 percent, to 21,255.05. It reached a high of 21,288.35 and a low of 20,976.80 during the day.

HDFC Bank, Power Grid, Kotak Mahindra Bank, Reliance Industries, NTPC, State Bank of India, Tata Steel, and Bharti Airtel were the top gainers on Sensex.

Among the top laggards were Bajaj Finance, Axis Bank, HCL Tech, and Mahindra & Mahindra.

Seoul and Tokyo concluded lower in Asian markets, while Shanghai and Hong Kong finished higher.

European stocks were trading in the red.

On Wednesday, the US stock markets finished lower.

Brent crude gained 0.33 percent to USD 79.96 per barrel.

According to the exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 1,322.08 crore on Wednesday.

On Wednesday, the BSE benchmark fell 930.88 points or 1.30 percent to 70,506.31. The Nifty lost 302.95 points or 1.41 percent to 21,150.15.

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