Markets Rebound Led by Heavyweight Stocks & Positive Global Cues
Markets jump after three consecutive days of losses
The market rebounded nicely after a correction in the previous three consecutive sessions. The Sensex surged as much as 165 points in opening trade , led by gains in ITC, ICICI Bank, HDFC, RIL and Tata Motors.
The Nifty surged past its crucial psychological level of 8,150, supported by gains in pharma, banks, capital goods, metal, and realty stocks.
The rupee gained in the early trade today. It opened higher by 29 paise at 64.75 per dollar versus 65.04 Wednesday.
Most other Asian markets traded positive on Thursday. Japan’s Nikkei rose 0.8 per cent while South Korea’s Kospi was up by a per cent. Hong Kong’s Hang Seng index was up 1.6 per cent. China’s Shanghai Composite was trading higher by 0.8 per cent.
Overnight Wall Street was dragged lower by Walmart as the retail giant announced weak results raising concerns over US earnings this season.
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