Sensex, Nifty rebound on global cues and blue-chip buying

Benchmark indices Sensex and Nifty rebounded in early trade on Thursday, tracking global gains and buying in blue-chip stocks. Asian Paints led the rally even as FIIs sold shares and DIIs turned net buyers, exchange data showed.

Mumbai: Benchmark indices Sensex and Nifty rebounded in early trade on Thursday, tracking a rally in global markets and buying in blue-chip stocks.

The 30-share BSE Sensex climbed 376.89 points to 83,836.04 in early trade. The 50-share NSE Nifty went up by 81.5 points to 25,679.15.

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From the Sensex firms, Asian Paints jumped over 4.50 per cent.

Mahindra & Mahindra, Reliance Industries, State Bank of India, Adani Ports, Trent and Larsen & Toubro were also among the gainers.

However, Power Grid, Eternal, Bajaj Finance and HDFC Bank were among the laggards.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index traded in the positive territory.

US markets ended higher on Wednesday.

Meanwhile, Commerce and Industry Minister Piyush Goyal on Wednesday said India and the US are holding continuous discussions for the proposed bilateral trade agreement.

Stock markets were closed on Wednesday for Guru Nanak Jayanti.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,067.01 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,202.90 crore, according to exchange data.

On Tuesday, the Sensex dropped 519.34 points or 0.62 per cent to settle at 83,459.15. The Nifty declined 165.70 points or 0.64 per cent to 25,597.65.