Markets stage comeback: NIFTY50 jumps 300 points, SENSEX gains nearly 900 points from intraday low; IT stocks among top index movers

Indian benchmark indices reversed the majority of the losses in a sharp pullback from the lower levels. The NIFTY50 jumped nearly 300 points from the intraday low of 24295 to 24600, while the SENSEX jumped nearly 1000 points from 80467 levels. The pullback was largely driven by buying in the index heavyweight stocks like Infosys, Reliance, ICICI Bank, TCS and HDFC Bank

On the global front, Asian markets traded mostly higher, following positive cues from the US markets overnight. In a stock-specific development, Bondada Engineering rose after the company secured a work order from the Bihar Renewable Energy Development Agency.

The SENSEX traded at 81600.32, up by 530 points or 0.66% after trading in a range of 80467.37 and 81198.87. There were 8 stocks declining against 22 stocks gaining on the index.

Sectorally, NIFTYIT (+1.2%) and NIFTY Private Bank (+0.4%) were the top gainers during the mid-market session. While NIFTY Realty (+0.5%), and Media (-.4%) were the top two losers on Thursday

The NIFTY50 traded 140 points higher at 24600 after trading in a range of 24295.55 and 24621.95. 33 stocks advanced on the index, while 17 stocks declined.

Asian markets were trading mostly in green; the Shanghai Composite strengthened 6.86 points or 0.2% to 3,371.51, the Straits Times rose 28.07 points or 0.74% to 3,828.01, Nikkei 225 surged 117.79 points or 0.3% to 39,394.18, and Taiwan Weighted added 12.61 points or 0.05% to 23,267.94. However, Hang Seng declined 216.98 points or 1.1% to 19,525.48, Jakarta Composite plunged 32.8 points or 0.45% to 7,293.96 and KOSPI dropped 22.81 points or 0.93% to 2,441.19.