Early trading saw a market recovery after three days of declines
After declining for the previous three days, equity benchmark indexes rose early on Thursday due to gains in Asian markets and purchases of index heavyweights State Bank of India and Reliance Industries.
In early trading, the 30-share BSE Sensex increased by 310.82 points to 73,254.50. To reach 22,270.65, the NSE Nifty increased by 122.75 points.
The BSE benchmark fell 2,094.47 points, or 2.79 percent, during the previous three days.
The top gainers from the Sensex basket were Power Grid, State Bank of India, Kotak Mahindra Bank, Mahindra & Mahindra, Bharti Airtel, Larsen & Toubro, Tata Steel, and Reliance Industries.
Among the laggards were HCL Technologies, Axis Bank, Nestle, Tech Mahindra, Titan Company, and ITC.
Hong Kong, Shanghai, Tokyo, and Seoul were trading in positive territory in Asian markets.
Wednesday saw a weaker closing on Wall Street.
The benchmark for world oil, Brent crude, increased by 0.29 percent to USD 87.54 a barrel.
Exchange data shows that foreign institutional investors sold off shares on Tuesday for a total of Rs 4,468.09 crore.
In honor of Ram Navami on Wednesday, the stock markets were closed.
Tuesday saw the 30-share BSE benchmark continue its downward trend for the third day in a row, plunging 456.10 points or 0.62 percent, to close at 72,943.68. The NSE Nifty closed at 22,147.90, down 124.60 points, or 0.56 percent.
