Share Markets Bounce Back After A Two-Day Slide

Share Markets recovered dramatically on Thursday after falling for the previous two days, spurred by bargain hunting in capital goods, banking, and IT companies stocks despite a sharp reversal in global crude prices.

Traders stated that optimistic PMI data boosted confidence even as persistent foreign capital outflows curtailed gains.

The 30-share BSE Sensex rose 405.53 points or 0.62 percent to 65,631.57. During the day, it climbed 527.16 points or 0.80 percent to 65,753.20.

Nifty gained 109.65 points or 0.56 percent to 19,545.75.

Larsen & Toubro led the Sensex pack with a 2.35 percent increase, followed by Titan, Tata Consultancy Services, Maruti, Mahindra & Mahindra, Infosys, ICICI Bank, and Asian Paints.

Power Grid, Nestle, NTPC, HCL Technologies, and Bajaj Finance, on the other hand, were among the laggards.

In Asian share markets, Tokyo and Hong Kong finished higher, while Seoul finished lower. Shanghai was closed for the holiday.

European markets were trading on a mixed note.

On Wednesday, the markets in the United States finished in the green.

Brent crude fell 0.89 percent to $85.05 per barrel.

According to the data exchange, FIIs sold equities worth Rs 4,424.02 crore on Wednesday.

On Wednesday, the BSE benchmark fell 286.06 points, or 0.44 percent to 65,226.04. The Nifty dropped by 92.65 92.65 points or 0.47 percent to 19,436.10.

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