Sensex jumps 491 points post two-day slump
The Nifty climbed 141.25 points or 0.66 per cent to 21,658.60 points.
Representative Image (Reuters)
MUMBAI: Equity benchmark indices Sensex and Nifty rebounded nearly 1 per cent on Thursday after sliding for the past two sessions, propped up by bargain hunting in realty, power and financial stocks.
The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57 points. During the day, it rallied 598.19 points or 0.83 per cent to 71,954.79 points.
The Nifty climbed 141.25 points or 0.66 per cent to 21,658.60 points.
“Market bounced back after the last two negative trading days led by strong monthly business updates of leading banks, emphasising robust credit growth. The Realty sector was the highest gainer in anticipation of robust demand in the residential category, which was supported by healthy housing loan disbursement data announced by banks,” said Vinod Nair, Head of Research, Geojit Financial Services.
Bajaj Finance was the biggest gainer on the Sensex chart, rising 4.44 per cent, followed by NTPC, IndusInd Bank, Axis Bank, Tata Motors, Nestle, Power Grid, Infosys, Bajaj Finserv and HDFC Bank. HCL Tech, Mahindra & Mahindra, Maruti and Hindustan Unilever were among the losers.
In the broader market, the BSE midcap gauge jumped 1.49 per cent, and smallcap index climbed 1.04 per cent.
Among the indices, realty zoomed 6.61 per cent, utilities jumped 2.55 per cent, telecommunication (2.09 per cent), services (1.68 per cent), financial services (1.30 per cent), banking (0.93 per cent) and consumer discretionary (0.82 per cent).
Auto and metal were the laggards. “Asian shares were mixed on Thursday as traders dialled back bets of steep and early rate cuts this year, with the minutes of the Federal Reserve’s last meeting providing few clues on when US cuts might start,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
Equity investors become richer by Rs 3.24 lakh cr as markets rally
Investors’ wealth grew by Rs 3.24 lakh crore on Thursday as the BSE Sensex jumped nearly 1 per cent after a two-day slide. The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57. During the day, it rallied 598.19 points or 0.83 per cent to 71,954.79. The market capitalisation of BSE-listed companies climbed Rs 3,24,010.1 crore to hit an all-time high of Rs 3,68,32,843.41 crore.
