Stock markets rebound after two days of fall amid global rally

IndusInd Bank, Tata Steel, Tata Motors, Sun Pharma, Infosys, Mahindra & Mahindra, Infosys, NTPC, Bharti Airtel, HCL Technologies and Axis Bank were the biggest gainers.

Benchmark equity indices Sensex and Nifty rebounded nearly 1% on Thursday after a two-day decline, following a rally in global markets amid the U.S. Federal Reserve keeping rates unchanged.

The 30-share BSE Sensex jumped 489.57 points or 0.77% to settle at 64,080.90. During the day, it rallied 611.31 points or 0.96% to 64,202.64.

The Nifty climbed 144.10 points or 0.76% to 19,133.25.

Among the Sensex firms, IndusInd Bank, Tata Steel, Tata Motors, Sun Pharma, Infosys, Mahindra & Mahindra, Infosys, NTPC, Bharti Airtel, HCL Technologies and Axis Bank were the biggest gainers.

Tech Mahindra and Bajaj Finance were the laggards.

"A pause with dovish commentary from the Fed led to a rebound in the global and domestic market sentiment. Further, the fall in U.S. bond yields indicates a prolonged pause in interest rate hikes," Vinod Nair, Head of Research at Geojit Financial Services said.

"Domestic macros are favourable with positive auto numbers, a surge in GST collection, good factory data and better than estimated Q2 quarter earnings," Mr. Nair added.