Mumbai, Aug 20: Indian equity markets staged a strong recovery on Thursday, with the Sensex jumping 628 points and the Nifty 50 snapping a seven-session losing streak, as buying returned across IT, financial and other major sectors.
The Sensex closed 628 points, or 0.82 per cent, higher at 77,537.72, while the Nifty gained 0.64 per cent to settle at 24,231.85. The rebound offered relief to investors after a prolonged period of selling pressure.
The recovery was broad-based, with 14 of 16 major sectoral indices ending in positive territory. IT stocks gained around 0.8 per cent, while financial stocks also advanced. Mid-cap and small-cap shares participated in the recovery, indicating improved buying interest across the market.
IT stocks were among the key contributors to the rally, with investors returning to technology counters after recent declines. Several major IT companies ended higher, supporting the broader market recovery.
Improved global sentiment also supported domestic equities. Easing US bond yields and measures aimed at stabilising longer-duration US Treasury markets helped reduce some pressure on global risk assets.
The rupee also strengthened marginally, closing at around Rs 95.71 against the US dollar, compared with Rs 95.76 in the previous session.
Despite the strong rebound, investors are likely to remain cautious as elevated crude oil prices, global yields and geopolitical developments continue to influence market sentiment.
Thursday’s gains, however, marked an important recovery for Indian equities, giving investors some relief after the recent losing streak and restoring confidence in the broader market.