Sensex, Nifty Update: Benchmark Sensex Rebounds 335 Points, Nifty Closes Above 22,100 Level

The Indian stock market rebounded sharply on Thursday, with the BSE Sensex climbing 335 points and the NSE Nifty rising by 148 points. The rebound was driven by IT shares and metal shares, which helped the market recover from the previous day's sharp losses.

The Sensex finished at 73,097.28, up 0.46%. The broader Nifty 50 index advanced by 0.68% to close at 22,146.65. Among the top gainers were HCL Technologies, Infosys, Wipro, Bharti Airtel, L&T, Mahindra & Mahindra, and Tata Consultancy Services. On the other hand, Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India, and Tata Steel were among the major laggards.

concurrently, the rupee depreciated 1 paisa to close at 82.82 against the US dollar. Additionally, the overall market sentiment was boosted by strong macro data and a firm trend in domestic equity markets. According to Vinod Nair, Head of Research at Geojit Financial Services, the market was able to recover half of the previous trading day's sell-off.

Meanwhile, TVS Motor Board will meet on March 20 to consider the issuance of cumulative non-convertible redeemable preference shares by way of bonus to the company's shareholders. In other news, Eris Lifesciences acquired Biocon Biologics' India branded formulation business for INR 1242 crore, while H.G. Infra Engineering's subsidiary H.G. Solar Projects acquired a 49% stake in Norangdesar and Rasisar Solar Developer Private Limited.

The market also witnessed notable gainers and losers, with Adani Enterprises and Adani Ports rising by 6.16% and 4.73%, respectively. In contrast, Axis Bank fell 1.85%, IndusInd Bank decreased by 1.67%, JSW Steel declined by 1%, and Tata Steel decreased by 0.80%.

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