Benchmark equity indices Sensex and Nifty rebounded in early trade on April 29, in tandem with a rally in global markets and buying in ICICI Bank and Reliance Industries. | Photo credit: The Hindu
Benchmark equity indices Sensex and Nifty rebounded in early trade on April 29, in tandem with a rally in global markets and buying in ICICI Bank and Reliance Industries.
The 30-share BSE Sensex rose 411.15 points to 74,141.31 in early trade. The NSE Nifty index rose 94.2 points to 22,514.15.
ICICI Bank’s Sensex basket rose almost 2% after the company on April 27 reported that its consolidated net profit for March rose 18.5% to ₹ 11,672 crore, helped by lower provisions.
IndusInd Bank, Tech Mahindra, Maruti, Sun Pharma, Reliance Industries and Tata Steel also posted other substantial gains.
HCL Technologies, Mahindra & Mahindra, ITC and Power Grid were left behind.
On Asian markets, Seoul, Shanghai and Hong Kong recorded gains.
Wall Street ended higher on April 26.
Global price benchmark Brent crude fell 0.89% to $88.70 a barrel.
According to stock exchange data, foreign institutional investors (FIIs) withdrew shares worth ₹ 3,408.88 crore on April 26.
The BSE benchmark fell 609.28 points or 0.82% to settle at 73,730.16 on April 26. The NSE Nifty index fell 150.40 points or 0.67% to 22,419.95.