Stocks

Markets bounce back after sharp fall in previous trade; Sensex, Nifty up over 1 per cent

PTI | | Updated on: Jun 23, 2022

The sentiment improved following a sharp fall in crude oil prices

Equity indices made a firm start on Thursday and rallied further after falling sharply in the previous trade, with BSE Sensex climbing 580 points amid mixed trends from global markets.

The 30-share BSE Sensex was trading with a gain of 581.24 points at 52,403.77. The NSE Nifty went up by 181.40 points to 15594.70.

Major gainers

From the Sensex pack, Bharti Airtel, Wipro, Maruti, TCS, Larsen & Toubro and IndusInd Bank were the major gainers in early trade.

On the other hand, Titanand Power Grid were the laggards.

Elsewhere in Asia, markets in Tokyo and Seoul were trading lower, while Hong Kong and Shanghai were quoting in the green.

The US markets ended marginally lower on Wednesday.

Crude price fall

"Boosting the sentiment would be a sharp fall in WTI crude oil prices... However, mounting concerns of rising US interest rates, rupee hitting fresh lows and unabated FII selling will continue to keep markets in a volatile mode," said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.

The 30-share BSE Sensex tanked 709.54 points or 1.35 per cent to settle at 51,822.53 on Wednesday. The NSE Nifty fell 225.50 points or 1.44 per cent to end at 15,413.30.

Meanwhile, international oil benchmark Brent crude declined 2.25 per cent to $109.25 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth ₹2,920.61 crore on Wednesday, as per exchange data.

Published on June 23, 2022
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