Mumbai, March 5 The benchmark indices in the Indian stock market, Sensex and Nifty, rebounded in early trading on Thursday, tracking a recovery in global equities, after experiencing heavy losses in the past few trading sessions due to the conflict in West Asia.
The 30-share BSE Sensex jumped by 550.27 points to 79,666.46 in early trading. The 50-share NSE Nifty climbed by 171.45 points to 24,651.95.
Among the major gainers in the Sensex pack were Adani Ports, Reliance Industries, NTPC, Bharat Electronics, Tata Steel, and Larsen & Toubro.
HCL Tech, Tech Mahindra, ICICI Bank, and Asian Paints were among the laggards.
Brent crude, the global oil benchmark, rose by 2.86 per cent to USD 83.73 per barrel.
In Asian markets, South Korea's Kospi rebounded sharply and rose by 10 per cent. Japan's Nikkei 225, China's SSE Composite index, and Hong Kong's Hang Seng index also quoted higher.
The US market ended in positive territory on Wednesday.
"On the global front, US markets ended the previous session on a strong note, while South Korea's Kospi index is trading sharply higher, gaining more than 10 per cent, offering some positive external cues," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Foreign Institutional Investors (FIIs) sold equities worth Rs 8,752.65 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 12,068.17 crore, according to exchange data.
On Wednesday, the Sensex fell by 1,122.66 points or 1.40 per cent to close at 79,116.19, marking the fourth consecutive day of decline. The Nifty also declined by 385.20 points or 1.55 per cent to end at 24,480.50, registering its third day of decline.
