Sensex jumps 899 points as global markets recover

Benchmark equity indices rebounded sharply on Thursday, with the BSE Sensex rising nearly 900 points and the NSE Nifty gaining over 1 per cent, tracking a recovery in global markets after recent losses linked to tensions in West Asia.

Snapping a four-day losing streak, the 30-share Sensex surged 899.71 points or 1.14 per cent to close at 80,015.90. During intra-day trade, the index climbed as much as 1,187.64 points to hit 80,303.83.

The broader NSE Nifty also recovered, advancing 285.40 points or 1.17 per cent to settle at 24,765.90, ending its three-session decline.

Among the top gainers in the Sensex pack were Adani Ports, Larsen & Toubro, NTPC, Reliance Industries, Bharat Electronics and InterGlobe Aviation. On the other hand, Tech Mahindra, HCL Tech, Hindustan Unilever and ICICI Bank were among the major laggards. Global oil prices also moved higher, with Brent crude rising 1.84 per cent to USD 82.90 per barrel.

Asian markets witnessed a strong rebound, led by South Korea’s Kospi which jumped 9.63 per cent. Japan’s Nikkei 225, China’s Shanghai SSE Composite and Hong Kong’s Hang Seng also ended in the green. European markets were trading higher, while US markets had closed with gains on Wednesday.