After continues losses of two days, share market recovered the loss marginally on Thursday in the early hours of trade despite analysts predict a slower world economic growth due the the coronavirus pandemic.
The benchmark index of the Bombay Stock Exchange (BSE), Sensex rose as much as 299.39 points to touch 38,708.87 in the first few minutes of trade. The broader benchmark index of the National Stock Exchange (NSE), Nifty, climbed to as high as 11,339.95, up 88.95 points from the previous close.
The sectoral indices of finance, consumer goods, metal and energy helped to push the markets higher.
Top gainers in percentages were Vedanta, GAIL, Hindalco, JSW Steel and Tata Steel, trading between 2.12 per cent and 4.03 per cent higher. Yes Bank gains more than 10 percent to Rs.32.30, Kotak Mahindra ups 3.62 percent to Rs.1666.60, HUL gains 3.31 percent to Rs.2247.80, HCL Tech ups 2.92 percent to Rs.579.55, Britannia ups 2.84 percent to Rs.3,150. HDFC Bank, HUL and Infosys were the top contributors to the upmove in Sensex, together accounting for a rise of more than 60 points in the index.
Zee Entertain loses 4.75 percent to Rs.239.80, Bharti Infratel loses 3.17 percent to Rs.214.05. Coal India, SBI and Vedanta also ended in red.
Equities in other Asian markets were up for the fourth session in a row following sharp gains in US peers. Overnight in the US, the Dow Jones Industrial Average surged 4.53 per cent, while the S&P 500 and the Nasdaq gained 4.22 per cent and 3.85 per cent respectively.