Benchmark indices rebounded in early trade on Thursday after falling the previous day amid a largely positive trend in global markets. The 30-share Sensex climbed 329.15 points to 60,676.12 in early trade. The Nifty advanced 92.4 points to 18,096.15.
From the Sensex pack, Maruti, ICICI Bank, NTPC, Larsen & Toubro, Kotak Mahindra Bank, and Mahindra & Mahindra were the major gainers in the initial trade. IndusInd Bank, Tech Mahindra, Infosys, and Tata Steel were among the laggards. Asian markets in Tokyo, Hong Kong, and Seoul were quoting in the green, while Shanghai traded lower. The US markets had ended on a positive note on Wednesday.
The BSE benchmark had settled at 60,346.97, a loss of 224.11 points or 0.37 percent on Wednesday. The broader NSE Nifty closed lower by 66.30 points or 0.37 percent at 18,003.75. Meanwhile, the international oil benchmark Brent crude dipped 0.09 percent to USD 94.02 per barrel. Foreign institutional investors offloaded Rs 1,397.51 crore from the domestic equities on Wednesday.
After Wednesday's retreat, local shares started on a positive note tracking recovery in most of the Asian indices following an overnight uptick in the US markets, said Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd. Intra-day, markets may waver as the nervous theme could play out in the backdrop of consensus that inflation is falling more slowly-than-expected, he added.