Indian benchmark equity indices, Sensex and Nifty, witnessed a significant rebound in early trade, halting a multi-day losing streak, as easing US Treasury yields boosted global risk sentiment and fresh foreign fund inflows supported market optimism.
Sensex and Nifty50 Performance: Key Market Highlights Today
- Benchmark equity indices Sensex and Nifty rebounded in early trade, with Sensex jumping over 500 points and Nifty climbing over 118 points.
- The recovery was primarily driven by easing US Treasury yields, which improved global risk sentiment, and fresh foreign fund inflows into Indian markets.
- All 30 Sensex firms traded in positive territory, with Eternal, Infosys, Tech Mahindra, Bajaj Finance, Tata Consultancy Services, and HCL Tech among the top gainers.
- Asian markets, including South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index, also recorded gains.
- Experts suggest that while overseas recovery offers a constructive backdrop, persistent geopolitical uncertainty in the Middle East may keep investors cautious.
Benchmark equity indices Sensex and Nifty rebounded in early trade on Thursday, tracking a recovery in world markets as easing US Treasury yields improved global risk sentiment.
Fresh foreign fund inflows also added to the markets' optimism during the initial trading.
The 30-share BSE Sensex jumped 504.32 points to 77,416.16 in early trade after four days of decline.
The 50-share NSE Nifty also bounced back after seven days of losses. It climbed 118.85 points to 24,198.55.
Winners and Losers on Dalal Street
All the 30-Sensex firms were trading in positive territory during the early deals.
Eternal, Infosys, Tech Mahindra, Bajaj Finance, Tata Consultancy Services and HCL Tech were among the biggest winners.
How Global Markets Fared
In Asian markets, South Korea's Kospi rebounded 5.74 per cent. Japan's Nikkei 225, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were also quoting higher.
US markets ended in positive territory on Wednesday.
Brent crude, the global oil benchmark, traded 0.20 per cent higher at $91.87 per barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 407.99 crore on Wednesday, according to exchange data.
What Experts Said
"US indices halted a three-day losing streak after the US Treasury announced plans to more than double long-dated debt buybacks, pulling the 10-year Treasury yield down to 4.65 per cent.
"The S&P 500 gained 0.21 per cent, the Nasdaq Composite rose 0.16 per cent, and the Dow Jones Industrial Average added 120 points," Rajesh Palviya, Head of Research at Axis Direct, said.
"Indian equity markets are expected to trade with a firmer undertone, supported by an overnight rebound on Wall Street and gains across Asian markets after easing US Treasury yields improved global risk sentiment.
"While the recovery in overseas equities offers a constructive backdrop, persistent geopolitical uncertainty in the Middle East is likely to keep investors cautious," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
"The decline in US bond yields indicates a positive potential construct for equity markets, globally," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
