Markets rebound in early trade after three days of decline

Equity benchmark indices rebounded in early trade on Thursday after falling for the past three days amid a rally in Asian markets along with buying in index majors State Bank of India and Reliance Industries.

The 30-share BSE Sensex climbed 310.82 points to 73,254.50 in early trade. The NSE Nifty went up by 122.75 points to 22,270.65.

In the past three days, the BSE benchmark tanked 2,094.47 points or 2.79 per cent.

From the Sensex basket, Power Grid, Mahindra & Mahindra, Bharti Airtel, Larsen & Toubro, Tata Steel, State Bank of India, Kotak Mahindra Bank and Reliance Industries were the major gainers.

HCL Technologies, Axis Bank, Nestle, Tech Mahindra, Titan Company and ITC were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in the positive territory.

Wall Street ended lower on Wednesday.

Global oil benchmark Brent crude climbed 0.29 per cent to USD 87.54 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,468.09 crore on Tuesday, according to exchange data.

Stock markets were closed on Wednesday for Ram Navami.

Continuing its downtrend for the third day running, the 30-share BSE benchmark tanked 456.10 points or 0.62 per cent to settle at 72,943.68 on Tuesday. The NSE Nifty declined 124.60 points or 0.56 per cent to finish at 22,147.90.