Sensex, Nifty rebound after two-day decline as large-cap stocks rally

Sensex and Nifty found firmer ground on Thursday after a two-day decline. 

New Delhi: Equity indices found firmer ground on Thursday after a two-day decline, buoyed by a rally in market heavyweight Reliance Industries and easing crude oil prices. However, a depreciating rupee and unrelenting foreign fund outflows capped the gains, traders said. Overcoming a wobbly start, the 30-share BSE Sensex climbed 436.94 points or 0.79 per cent to finish at 55,818.11.

Similarly, the broader NSE Nifty surged 105.25 points or 0.64 per cent to 16,628.

Reliance Industries stole the show in Thursday's session, vaulting 3.51 per cent, followed by Bajaj Finserv, Sun Pharma, HCL Tech, TCS, Infosys, Asian Paints and Tata Steel.

The losers' list comprised HDFC twins, PowerGrid, HUL, Kotak Bank, ICICI Bank, M&M, L&T, Maruti and Tech Mahindra.

"High-frequency data like GST collection and PMI have shown a good start to FY23. Crude prices have declined providing an edge to the performance of the Indian market.