Markets rebound early on global equity rally, foreign fund inflows

The 30-share BSE Sensex rose 245.32 points to reach 80,170.09 in early trade, while the NSE Nifty increased by 78.2 points to 24,402.65.

Mumbai: Equity benchmark indices rebounded in early trade on Thursday amid a rally in global markets and continuous foreign fund inflows.

Buying in IT stocks also added to the positive trend in equities.

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The 30-share BSE Sensex climbed 245.32 points to 80,170.09 in early trade. The NSE Nifty went up by 78.2 points to 24,402.65.

Among the Sensex pack, Tata Consultancy Services climbed over 1 per cent ahead of its quarterly earnings announcement later in the day.

The other prominent gainers were HCL Technologies, Tata Motors, Tata Steel, Maruti, Infosys and State Bank of India.

Power Grid, Nestle, Sun Pharma, HDFC Bank and Mahindra & Mahindra were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading higher.

US markets ended significantly higher on Wednesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 583.96 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.76 per cent to USD 85.73 a barrel.

The BSE benchmark closed lower by 426.87 points or 0.53 per cent at 79,924.77 on Wednesday. The NSE Nifty dropped 108.75 points or 0.45 per cent to settle at 24,324.45.

Both the benchmark indices had hit their record high levels in opening deals on Wednesday.