Markets bounce back in opening session after sharp fall in previous trade

Equity indices made a firm opening on Thursday after falling sharply in the previous trade, with BSE Sensex climbing 239 points amid mixed trends from global markets.

The 30-share BSE Sensex was trading with a gain of 238.73 points at 52,061.26. The NSE Nifty went up by 78.1 points to 15,491.40.

From the Sensex pack, Bharti Airtel, Wipro, Maruti, TCS, Larsen & Toubro and IndusInd Bank were the major gainers in early trade.

On the other hand, Titan, Reliance Industries and Power Grid were the laggards.

Elsewhere in Asia, markets in Tokyo and Seoul were trading lower, while Hong Kong and Shanghai were quoting in the green.

The United States markets ended marginally lower on Wednesday.

“Boosting the sentiment would be a sharp fall in WTI crude oil prices… However, mounting concerns of rising US interest rates, rupee hitting fresh lows and unabated FII selling will continue to keep markets in a volatile mode,” said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.

The 30-share BSE Sensex tanked 709.54 points or 1.35% to settle at 51,822.53 on Wednesday. The NSE Nifty fell 225.50 points or 1.44% to end at 15,413.30.

Meanwhile, international oil benchmark Brent crude declined 2.25% to $109.25 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth ₹2,920.61 crore on Wednesday, as per exchange data.