Closing Bell: Sensex rebounds over 300 points, Nifty also gains 100 points

Market benchmark Sensex rallied over 320 points while the Nifty ended at its fresh lifetime high on Thursday, led by index-heavyweights Reliance Industries and HDFC twins as global markets logged robust gains. The 30-share BSE index ended 320.62 points, or 0.78 per cent, higher at 41,626.64.

It hit an intra-day high of 41,649.29. Similarly, the broader NSE Nifty closed 99.70 points, or 0.82 per cent, up at 12,282.20 -- its all-time high.

Ultratech Cement was the top gainer in the Sensex pack, surging 4.37 per cent, followed by Tata Steel, IndusInd Bank, L&T, Reliance Industries, SBI, HDFC, HDFC Bank, Axis Bank, ONGC and ITC. On the other hand, Bajaj Auto, TCS, Infosys, NTPC, Nestle India, Kotak Bank and Hero MotoCorp fell up to 0.89 per cent.

In the previous session, the 30-share gauge gained 52.28 points or 0.13 per cent to close at 41,306.02, while the Nifty settled 14.05 points, or 0.12 per cent, higher at 12,182.50 Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 58.87 crore, while domestic institutional investors purchased shares worth Rs 208.47 crore on Wednesday, data available with stock exchanges showed.

Bourses in Shanghai, Hong Kong were trading significantly higher, while those in Seoul were in the red. Stock exchanges in Tokyo remained closed for New Year holidays.

Traders said domestic investors followed Asian equities which rallied on Chinese central bank’s fresh stimulus for the country’s slowing economy. Bourses in Shanghai and Hong Kong spurted up to 1.25 per cent, while Seoul ended in the red. Stock exchanges in Europe also opened significantly higher.

On the currency front, the rupee depreciated 11 paise against the US dollar to 71.33 (intra-day). Brent futures, the global oil benchmark, advanced 0.42 per cent to USD 66.28 per barrel.

(With inputs from PTI)