Sensex Jumps 1000 Points; Markets Rebound

Mumbai, Jun 20 (PTI) Equity benchmark indices Sensex and Nifty rebounded sharply by over 1 per cent on Friday after sliding for the past three sessions, propelled by bargain hunting in financial, telecom and tech stocks amid a correction in global crude prices.

A largely supportive trend overseas and renewed foreign capital inflows supported the domestic equities amid easing tension in the Middle East, traders said.

After a flat start, the 30-share BSE Sensex later found its mojo back and surged 1,046.30 points or 1.29 per cent to settle at 82,408.17. During the day, it jumped 1,132.62 points or 1.39 per cent to 82,494.49.

The 50-share NSE Nifty climbed 319.15 points or 1.29 per cent to 25,112.40.

"Equity indices surged as Middle East tension moderated with risk of immediate military actions reduced as US dialogue with Iran is expected to take place. The development led the crude price to correct, favouring domestic markets and boosting foreign investors' sentiments.

"In the broader market, rapid fall in VIX index and buying was witnessed in rate sensitives and consumer-oriented sectors like Finance, Auto and Reality and in anticipation of better Q1FY26 results led by rate cuts benefits, drop in inflationary pressure and rebound in consumer spending," Vinod Nair, Head of Research, Geojit Investments Limited, said.

From the Sensex firms, Bharti Airtel, Nestle, Mahindra & Mahindra, Power Grid, Reliance Industries, NTPC, Eternal and HDFC Bank were among the biggest gainers.


In contrast, Axis Bank and Maruti were the laggards.

In Asian markets, South Korea's Kospi and Hong Kong's Hang Seng settled in positive territory, while Japan's Nikkei 225 index and Shanghai's SSE Composite index ended lower.

Markets in Europe were trading higher in mid-session trade.

US markets were closed on Thursday for the Juneteenth holiday.

Global oil benchmark Brent crude dropped 1.93 per cent to USD 77.33 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 934.62 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 605.97 crore.

On Thursday, the 30-share BSE Sensex declined 82.79 points, or 0.10 per cent, to settle at 81,361.87. The Nifty dipped 18.80 points or 0.08 per cent to 24,793.25.