Kamal Ghorui
Benchmark equity indices, Nifty50 and BSE Sensex staged a sharp recovery on Thursday, erasing steep intraday losses to end higher, supported by value buying in IT and banking stocks and a strong rebound in the rupee.The 30-share BSE Sensex rose 185.23 points, or 0.25 per cent, to settle at 73,319.55 after plunging 1,588 points in early trade to a low of 71,545.81. The index rebounded over 2,000 points from the day’s low, hitting a high of 73,568.54 in late trade.The NSE Nifty also recovered from sharp losses to close at 22,713.10, up 33.70 points, or 0.15 per cent. It had dropped 496.85 points, or 2.19 per cent, earlier in the session before climbing to an intraday high of 22,782.30.Market sentiment improved after a sharp rebound in the rupee, which strengthened by 188 paise to briefly touch the 92 level against the US dollar before settling over 150 paise higher. The recovery followed regulatory measures by the Reserve Bank aimed at stabilising the currency.Bargain buying in IT stocks led the gains, with HCL Technologies and Tech Mahindra rising nearly 3 per cent each.
Nifty50 top gainers
- HCL Tech (+3.53%)
- Tech Mahindra (+2.64%)
- Infosys (+1.97%)
- Wipro (+1.96%)
- Tata Consumer (+1.78%)
- TCS (+1.77%)
- Hindalco (+1.29%)
- Bajaj Finance (+1.17%)
- HDFC Bank (+1.17%)
- Maruti Suzuki (+0.98%)
Nifty50 top losers
- Eicher Motors (-2.58%)
- Asian Paints (-2.56%)
- Eternal (-2.03%)
- Sun Pharma (-2.02%)
- Bajaj Auto (-1.55%)
- Max Healthcare (-1.50%)
- NTPC (-1.38%)
- RIL (-1.37%)
- HDFC Life (-1.20%)
- Grasim Industries (-1.11%)
BSE Sensex top gainers
- HCL Tech (+3.53%)
- Tech Mahindra (+2.64%)
- Infosys (+1.97%)
- TCS (+1.77%)
- Bajaj Finance (+1.17%)
- HDFC Bank (+1.17%)
- Maruti Suzuki (+0.98%)
- Titan Company (+0.78%)
- Bharat Electronics (BEL) (+0.70%)
- Trent (+0.69%)
BSE Sensex top losers
- Asian Paints (-2.56%)
- Eternal (-2.03%)
- Sun Pharma (-2.02%)
- NTPC (-1.38%)
- RIL (-1.37%)
- Power Grid (-0.98%)
- UltraTech Cement (-0.88%)
- M&M (-0.66%)
- Adani Ports SEZ (-0.57%)
- Bajaj Finserv (-0.39%)
“Indian equity markets opened on the back foot as Trump’s renewed threat to strike Iran ‘extremely hard’ swiftly erased the optimism built in the prior session, triggering broad-based selling across Asian markets,” said Vinod Nair, Head of Research, Geojit Investments Ltd, PTI quoted.“The RBI’s twin regulatory actions—capping banks’ net open rupee positions and barring NDF offerings to corporates—though disruptive to banking operations in the near term, achieved their intended effect, mechanically forcing dollar unwinding and engineering a meaningful rupee recovery,” he added.Global cues remained weak after US President Donald Trump said in a national address that the US would continue to hit Iran “very hard” and “finish the job” soon.Crude oil prices surged more than 7 per cent, with Brent crude trading 7.28 per cent higher at USD 108.52 per barrel.Asian markets ended lower, with South Korea’s Kospi falling 4.47 per cent, Japan’s Nikkei 225 declining 2.40 per cent, Shanghai’s SSE Composite slipping 0.74 per cent and Hong Kong’s Hang Seng losing 0.70 per cent.European markets were also in the red, with Germany’s DAX down 1.71 per cent, Paris’ CAC 40 falling 0.98 per cent and London’s FTSE 100 slipping 0.12 per cent.Foreign Institutional Investors (FIIs) sold equities worth Rs 8,331.15 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 7,171.80 crore.In the previous session, the Sensex had surged 1,186.77 points to close at 73,134.32, while the Nifty climbed 348 points to settle at 22,679.40.
