Indian shares recovered some lost ground on Thursday after falling sharply the previous day.
The benchmark S&P BSE Sensex rose 358.79 points, or 0.51 percent, to 70,865.10 after having tumbled 1.30 percent the previous day in the wake of cautious comments from Federal Reserve officials on the rate outlook and reports of an uptick in Covid-19 cases in the country.
The broader NSE Nifty index closed 104.90 points, or half a percent, higher at 21,255.05 after settling 1.4 percent lower in the previous session amid concerns that markets had surged too far, too fast.
While a weaker dollar and falling Treasury yields offered some support, the oil price volatility and caution ahead of key U.S. GDP and the Fed’s preferred inflation data due this week served to cap the upside.
HDFC Bank, Apollo Hospitals Enterprise, Britannia Industries, BPCL and Power Grid Corp all rose about 2 percent in the Nifty pack, while HCL Technologies, Axis Bank, Bajaj Finance and Bajaj Auto fell 1-2 percent.
Market Analysis
Sensex, Nifty Seek Rebound After Wednesday’s Selloff
2023-12-21 10:35:06
