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Sensex Rebounds 250 Points, Reliance Industries Surges Over 2%

Among other top Nifty50 gainers were Bharti Infratel, Infosys, Tata Motors, UPL, GAIL India and Kotak Mahindra.

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Sensex Rebounds 250 Points, Reliance Industries Surges Over 2%

The Sensex had lost 554.12 points in the previous three sessions


BSE benchmark index Sensex jumped 252 points to 33,012.60 on Thursday while the NSE Nifty rose 71.5 points to 10,189.55. Gains were led by energy, IT, FMCG and auto stocks - up between 0.6 per cent and 1.2 per cent in morning. Reliance Industries rose more than two per cent to Rs 901.90 at day's high. Among other top Nifty50 gainers were Bharti Infratel, Infosys, Tata Motors, UPL, GAIL India and Kotak Mahindra - up between 1.2 per cent and 3.7 per cent in morning deals.

The Sensex had lost 554.12 points in the previous three sessions on subdued exports, higher inflation and muted second quarter earnings of some companies.

Oil markets were stable on Thursday as rising US stocks were countered by expectations that OPEC will extend an ongoing production cut during a meeting at the end of this month. Global oil prices had dropped overnight after crude oil and gasoline stockpiles rose unexpectedly in the US.

Inventories climbed 1.9 million barrels last week as crude oil production and refining output rose, the Energy Information Administration said. Analysts expected for a decrease of 2.2 million barrels, according to a poll by news agency Reuters.

ONGC, GAIL India and Indian Oil also rose 1.3 per cent to 2.9 per cent. However, BPCL declined 2.4 per cent at day's low.

At noon, 37 stocks in the 50-scrip Nifty were trading in the positive zone. The NSE benchmark was up 66.25 points, or 0.65 per cent, at 10,184.30, while Sensex was up 235 points, or 0.71 per cent, at 32,995.86.

(With agency inputs)


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