Stock markets rebound on foreign fund inflows, buying in Reliance, IT counters

Mumbai: Stock markets rebounded on Thursday with the benchmark Sensex climbing 398 points following buying in IT firms and blue-chip Reliance Industries and foreign fund inflows.

The 30-share BSE Sensex climbed 398.44 points or 0.49 per cent to settle at 82,172.10. During the day, it jumped 474.07 points or 0.57 per cent to 82,247.73.

The 50-share NSE Nifty jumped by 135.65 points or 0.54 per cent to 25,181.80.

IT shares such as HCL Tech, TCS, Infosys, and Tech Mahindra gained ahead of the quarterly earnings. IT bellwether TCS is scheduled to announce its quarterly earnings after market hours.

Among Sensex firms, Tata Steel, HCL Tech, UltraTech Cement, Bharat Electronics, Sun Pharma and Tata Consultancy Services were the major gainers.

However, Axis Bank, Titan, Maruti and Tata Motors were among the laggards.

Foreign Institutional Investors (FIIs) bought equities worth Rs 81.28 crore on Wednesday, according to exchange data.

In Asian markets, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled significantly higher while Hong Kong's Hang Seng index ended lower.

Markets in Europe were trading on a mixed note. US markets ended mostly higher on Wednesday.

Global oil benchmark Brent crude dipped 0.23 per cent to USD 66.08 a barrel.

On Wednesday, the Sensex declined 153.09 points or 0.19 per cent to settle at 81,773.66, snapping its four-day rising streak. The Nifty dropped 62.15 points or 0.25 per cent to 25,046.15.