Sensex rebounds on global cues

IT stocks helped the sensex to move up by 223 points on Thursday. A file picture of iconic Bombay Stock Exchange building in Mumbai.

Stocks rebounded on bourses tracking global markets as European indices rallied ahead of the European Central Bank (ECB) and Bank of England’s monthly meetings and key U.S. jobs report, which would be released on Friday.

The Bombay Stock Exchange (BSE) 30-share sensitive index, Sensex, recovered 233.08 points or 1.22 per cent at close to 19410.84.

IT, FMCG stocks gain

The up-move was led by information technology stocks which gained 2.73 per cent followed by fast moving consumer goods (FMCG) 2.69 per cent and technology 2.35 per cent. Except metal, which lost marginally (0.29 per cent) all other stocks ended in the positive territory.

“The markets today [Thursday] opened with a positive note tracking the global markets and remained in a range bound. In the second-half, markets again rallied on the back of positive European markets,” said Alex Mathews, Head, Research, Geojit BNP Paribas Financial Services Ltd.

On the National Stock Exchange (NSE), the 50-share Nifty closed at 5836.95 with a gain of 66.05 points or 1.14 per cent.

He said that information technology stocks gained as the rupee remained weak.