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Sensex jumps 500 points to recover from last two sessions of losses, Nifty above 17,750

The BSE Sensex jumped 551 points to 59, 580 while the Nifty index gained 156 points to 17,781. Shares of budget airline IndiGo declined four per cent after 2.9 per cent stake in the carrier exchanged hands via block deal today. About 10.8 million shares of the Gangwal family were listed for sale for Rs 1,996 crore.

ET Now Digital

Updated Sep 8, 2022, 09:57 IST

Sensex jumps 500 points to recover from last two sessions, Nifty above 17,750

New Delhi: Domestic benchmark indices opened in the positive on Thursday, recovering from the losses made in the last two sessions. Indices also tracked improvement in a broader Asian stocks gauge from the lowest since the pandemic-led mayhem.

The BSE Sensex index climbed 551 points to 59, 580 in opening deals while the broader Nifty index gained 156 points to 17,781. Shares of budget airline IndiGo declined four per cent after 2.9 per cent stake in the carrier exchanged hands via block deal today. About 10.8 million shares belonging to the Gangwal family were listed for sale for Rs 1,996 crore.

Bharti Airtel, M&M, Tech Mahindra, Asian Paints, IndusInd Bank, ICICI Bank, Infosys were among the top contributors to the benchmark indices. MMTC, IndiGo were in the red on the Sensex pack. All sectors opened in green with Nifty IT and Nifty PSU Bank indices leading the trade.

On the stock-specific front, shares of NDTV hit 5 per cent lower circuit for the second consecutive day. Paint stocks including Asian Paints, Berger Paints gained nearly 2 per cent as oil prices declined to 7-month lows.

Max Ventures and Industries gained 2 per cent after the company planned to buy Acreage Builders for Rs 322.5 crore. Shares of Bharti Airtel were up nearly 3 per cent after the company announced plans to launch 5G services in a month.

In international trade, most Asian markets enjoyed a rare advance on bargain-buying Thursday, tracking a Wall Street rally after a series of losses, though the dollar resumed its upward march with the Federal Reserve expected to announce another bumper interest rate hike.

US stocks staged a broad rebound following slides in recent weeks, while investors cheered a drop in US Treasury yields that sent bond prices higher.

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