Equity indices rebound on bargain buying, global cues

Mumbai: Indian stock markets witnessed a rebound on Wednesday as investors took to lower level buying with the Sensex rising over 270 points, after the rout in the last trading session.

However, trade on the Indian equity indices has been volatile during the day as they glided through the red and green territories during the day. The domestic market, had in fact opened in the red on Thursday.

A rise in the global markets also supported the domestic indices, analysts said. At 1.47 p.m., the Sensex was trading at 35,907.47, higher by 272.52 points or 0.76 per cent from the previous close of 35,634.95. It had opened at 35,468.90 and has so far touched an intra-day high of 36,021.51 and a low 35,261.92 points.

The Nifty50 on the National Stock Exchange was trading at 10,527.80, higher by 76.35 points or 0.73 per cent from its previous close.

Among the sectoral indices, banking, finance and energy stocks were among the gainers while IT, consumer durables and oil and gas witnessed heavy selling.

The Indian equity market witnessed a bloodbath in its previous trading session on Monday with the BSE Sensex registering its biggest single day fall in its history as it closed 1,941 points lower.

The plunge was due to the persistent concerns of the coronavirus epidemic severely impairing the global economy, coupled with the crash in the crude oil markets witnessed earlier on Monday.

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