“Equity Indices Rebound: Sensex and Nifty Surge on Global Rally and Key Corporate Performances”

Equity benchmark indices, Sensex and Nifty, witnessed a rebound in early trades on Monday, in line with a rally in global markets and the purchase of ICICI Bank and Reliance Industries. The 30-share BSE Sensex rose by 411.15 points to 74,141.31 in early trade, while the NSE Nifty went up by 94.2 points to 22,514.15. ICICI Bank climbed nearly 2% from the Sensex basket after the company announced on Saturday that its consolidated net profit for the March quarter had grown by 18.5% to Rs 11,672 crore, thanks to lower provisions. The other major gainers in the Sensex basket were IndusInd Bank, Tech Mahindra, Maruti, Sun Pharma, Reliance Industries, and Tata Steel. However, HCL Technologies, Mahindra & Mahindra, ITC, and Power Grid were the laggards. In Asian markets, Seoul, Shanghai, and Hong Kong were trading positively, while Wall Street ended with gains on Friday. The global oil benchmark, Brent crude, declined by 0.89% to USD 88.70 a barrel. According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,408.88 crore on Friday. On Friday, the BSE benchmark tanked by 609.28 points or 0.82% to settle at 73,730.16, while the NSE Nifty declined by 150.40 points or 0.67% to 22,419.95.