Markets rebound as Sensex jumps almost 350 points, regains 33000-mark

The Sensex had lost 554.12 points in the previous three sessions on subdued exports higher inflation and muted second quarter earnings of some companies

According to market observers, healthy buying in banking, IT and metal stocks pushed the equity indices higher.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,106.82 points - up 346.38 points or 1.06 per cent - from Wednesday's close. The NSE Nifty 50 gained 97 points, or 1 per cent, to close at 10,215, above its 50-day moving average.

About 1,672 shares advanced against 983 declining shares on the BSE. "The recent decline in global crude oil prices also helped", Jasani added. The list had shed 1.7 for each penny over the past three sessions.

Reliance Industries, which derives the bulk of its profits from refining and petrochemicals, rose 2.3 per cent as crude oil steadied after its recent decline. "Markets are nearer to their close term bolsters and are getting assistance from positive slant among Asian markets", said Sageraj Bariya, VP of institutional deals at East India.

Tkachuk to have hearing for actions in Flames game against Red Wings
Anthony Mantha and Andreas Athanasiou each scored twice as the Detroit Red Wings routed the Calgary Flames 8-2 on Wednesday night. But following the game, officials assessed him with two additional 10-minute misconducts, bringing him to his 37 total minutes.

"On Thursday, oil markets were stable as rising U.S. stocks were countered by expectations that OPEC (Organisation of Petroleum Exporting Countries) will extend an ongoing production cut during a meeting at the end of this month", Desai told IANS.

The NSE Nifty50 dipped by 38.35 points, or 0.38 per cent, to close at 10,186.60 points, while the Sensex closed at 32,941.87 points - down 91.69 points or 0.28 per cent. The Indian rupee weakened marginally against the United States dollar in the opening trade on Thursday.

Shares of PC Jeweller (up 5.17 per cent), Titan Company (up 3.49 per cent) and Whirlpool of India (up 2.42 per cent) were the top gainers in the BSE Consumer Durables index. Shanghai Composite, however, was down 0.10 per cent.

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