Equity benchmark indices rebounded on Thursday, driven by gains in metal, pharma, and IT sectors, supported by consistent foreign fund inflows and positive global cues. Around 12 p.m., the Sensex rose 250.34 points or 0.31% to 82,023.99, while the Nifty climbed 91.40 points or 0.36% to 25,137.55.
Top gainers included Tata Steel, JSW Steel, Dr. Reddy’s Laboratories, HCL Technologies, and InterGlobe Aviation, which gained up to 3% intraday. Market breadth remained mixed with 1,698 stocks advancing, 1,925 declining, and 155 remaining unchanged.
The rally was largely driven by strong buying in metals and pharmaceuticals. The Nifty Metal index rose 1.6%, recovering from a three-day decline, as base metal prices surged due to supply concerns from key mines like Freeport’s Grasberg mine in Indonesia.
Global markets also supported sentiment, with Japan’s Nikkei 225 and Hong Kong’s Hang Seng rising. Positive signals from the US Fed minutes, indicating potential rate cuts due to labor market weakness, further boosted investor confidence in emerging markets like India.
Anand James of Geojit Financial Services suggested a move above 25,200 could lead to 25,460.
