Equity benchmark Sensex ended 260 points higher after a volatile session on Thursday, tracking gains in index majors HDFC twins, TCS and ICICI Bank amid largely positive cues from global markets. After gyrating 877 points during the day, the 30-share BSE index ended 259.62 points or 0.53 per cent higher at 48,803.68.
Similarly, the broader NSE Nifty advanced 76.65 points or 0.53 per cent to 14,581.45. TCS was the top gainer in the Sensex pack, rising around 4 per cent, followed by ONGC, ICICI Bank, HDFC Bank, Dr Reddy’s, HDFC and HCL Tech. On the other hand, Infosys, Maruti, IndusInd Bank, Nestle India and Bajaj Finance were among the laggards.
“Domestic equities looked to be resilient amid high volatility. Benchmark indices recovered sharply from today’s low mainly led by rebound in financials and pharma indices,” said Binod Modi, Head – Strategy at Reliance Securities. Auto stocks were worst hit mainly due to wider economic restrictions imposed in Maharashtra, which contributes over 20 per cent of automobiles production of the country, he said, adding that Infosys witnessed heavy profit booking after missing the street’s estimates in 4QFY21 earnings.
However, strong buying was seen in other IT majors due to sustained growth prospects, he noted. Elsewhere in Asia, bourses in Shanghai and Hong Kong ended in the red, while Seoul and Tokyo settled with gains. Stock exchanges in Europe were trading on a positive note in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.63 per cent lower at USD 66.34 per barrel.