Indices rebound; bank, auto stocks lead
Benchmark Sensex rebounded on Thursday as investors piled into recently beaten down bank, auto and metal counters.
“RBI’s neutral stance despite firm inflation expectations, and recent falls rendering stocks attractive, whetted the appetite of buyers,” said Anand James, Chief Market Strategist, Geojit Financial Services.
Stocks of state-run oil marketing companies such as HPCL, BPCL and IOC recorded gains of up to 1.83 per cent after global crude prices dropped by nearly 3 per cent to trade below $63 a barrel.
Bharti Airtel secured podium finish among the Sensex constituents, ratcheting up 6.08 per cent.
However, Sun Pharma, Wipro, Cipla, TCS and Coal India finished with losses.