In a positive turn of events, Bharat benchmark equity indices experienced a rebound in early trade on Friday, recovering from a three-day decline. This revival was attributed to a surge in buying activities within the banking and information technology (IT) sectors, coupled with a strong performance in the US markets.
The 30-share BSE Sensex witnessed a substantial jump of 657.45 points, reaching 71,844.31 in early trade, signaling a robust start to the trading day. Similarly, the Nifty, another key index, climbed 194.75 points to reach 21,657.
Among the gainers on the Sensex were prominent companies such as Titan, Axis Bank, Tech Mahindra, ICICI Bank, Bajaj Finance, Bajaj Finserv, Tata Consultancy Services, Wipro, Infosys, and ITC. However, IndusInd Bank and Reliance faced losses during this period.
While Asian markets saw positive movements in Seoul and Tokyo, Shanghai and Hong Kong experienced a decline. In the US, markets ended on a positive note on Thursday, contributing to the overall positive sentiment.
In the preceding trading session, the BSE benchmark had faced a slight setback, falling by 313.90 points or 0.44%, settling at 71,186.86. The Nifty also declined by 109.70 points or 0.51%, closing at 21,462.25.
On the global front, the Brent crude oil benchmark observed a marginal decrease of 0.27%, reaching USD 78.89 per barrel.
Foreign Institutional Investors (FIIs) were noted to have offloaded equities worth Rs 9,901.56 crore on Thursday, according to exchange data, reflecting a cautious stance in the market.
Overall, the rebound in equity indices, led by gains in bank and IT stocks, paints a positive picture for the Bharat markets amid fluctuations in global economic conditions. Investors will be closely monitoring further developments to gauge the sustainability of this upward trend.
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