Sensex surges 454 pts; Reliance Industries rebounds over 6 pc

Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.

The 30-share index ended 454.10 points or 0.78 per cent higher at 58,795.09. Similarly, the NSE Nifty surged 121.20 points or 0.70 per cent to close at 17,536.25.

Reliance Industries was the top gainer in the Sensex pack, soaring over 6 per cent, followed by ITC, Infosys, Tech Mahindra, Titan, Bharti Airtel and PowerGrid.

On the other hand, Maruti, ICICI Bank, IndusInd Bank, HUL and L&T were among the laggards.

Indian markets opened on mixed note following mixed Asian market cues as investors digested Bank of Korea raising rates along with resurgence of COVID-19 cases in Europe, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.

“During the afternoon session market recovered and gained momentum to enter into green terrain. Sentiments were upbeat as Moody’s expects India’s economic growth to rebound strongly, pegging GDP growth of 9.3 per cent and 7.9 per cent in fiscal year 2022 (ending on 31 March 2022) and fiscal 2023, respectively,” he noted.

Elsewhere in Asia, bourses in Hong Kong and Tokyo ended with gains, while Shanghai and Seoul were in the red.

Stock exchanges in Europe were trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude slipped 0.38 per cent to USD 81.94 per barrel.