Sensex, Nifty rebound as volatility dips; bank, metal stocks gain

Sensex, Nifty rebound as volatility dips; bank, metal stocks gain

Benchmark stock market indices ended Thursday's trading session on a positive note after declining in early trade.

The S&P BSE Senses rose 141.34 points to 77,478.93 at the closing bell, while the NSE Nifty50 gained 45.7 points to settle at 23,561.7.

The broader market indices also recovered to end the session on a positive note as volatility dipped significantly.

Nifty Realty, Nifty Metal and Nifty Bank were among the top sectoral indices gainers, while Nifty Pharma was the top losers.

The top five gainers on the Nifty50 were Hindalco, Grasim, JSW Steel, BPCL and Adani Ports.

On the other hand, the top losers were Hero MotoCorp, M&M, Sun Pharma, HDFC Life and NTPC.

Vinod Nair, Head of Research, Geojit Financial Services, said "Despite experiencing significant volatility, the domestic market concluded the day positively. In the near term, market attention is expected to centre around the upcoming Union budget and the progress of the monsoon."

"On the global front, the decline in US bond yields has facilitated robust FII inflows in recent days. The fertilizer stocks exhibited good momentum, driven by the proposed removal of GST & hike in MSP," he added.

Meanwhile, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, "Markets were a bit volatile in early trades but settled in positive territory to move in a range-bound manner thereafter as investors resorted to stock-specific selection after witnessing record-breaking spree over past few sessions. Also, US indices were closed on Wednesday, and hence domestic investors were cautiously optimistic."