Mumbai

Benchmarkequity indices bounced back on Thursday, with the Sensex climbing 628 points and the Nifty snapping its seven-day losing streak as easing global bond yields fueled a stock rally worldwide.

The 30-share BSE Sensex jumped 628.04 points, or 0.82 per cent, to settle at 77,537.72 after four days of decline. During the day, it surged 701.43 points, or 0.91 per cent, to 77,611.11. Snapping its seven-day falling streak, the 50-share NSE Nifty rose by 153.55 points, or 0.64 per cent, to close at 24,231.85.

"Markets found much-needed relief after the US Treasury stepped in to contain the surge in global bond yields, triggering a strong broad-based rebound and ending the domestic market's week-long losing streak. The intervention has dragged down the dollar, which, along with a firmer rupee and easing yield pressures, boosted attractiveness to EMs," Vinod Nair, Head of Research, Geojit Investments Ltd, said. The recovery was widespread across sectors, driven primarily by strength in IT and financial stocks, as a cooling yield environment supports spending, he said. "Yet, the market's optimism remains guarded as stubbornly high crude oil prices, driven by unresolved US-Iran tensions, continue to cast a shadow over inflation and corporate profitability," Nair added. Among the Sensex firms, Eternal, Kotak Mahindra Bank, ITC, Bajaj Finance, Axis Bank and UltraTech Cement were the biggest winners. Tata Steel, InterGlobe Aviation, HCL Tech and Titan were the laggards. "Indian equity markets ended higher on Thursday, snapping a seven-session losing streak—the longest in nearly 11 months—as easing global bond yields revived risk appetite and encouraged investors back into equities. "The recovery marked a decisive shift from the cautious tone that had dominated recent sessions, with benchmark indices holding on to their early gains throughout the day," Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a SEBI-registered Research Analyst firm, said. Foreign Institutional Investors (FIIs) bought equities worth Rs 407.99 crore on Wednesday, according to exchange data. The BSE SmallCap Select index climbed 0.83 per cent and MidCap Select index was up 0.56 per cent. Among sectoral indices, Realty jumped the most by 1.87 per cent. FMCG (1.03 per cent), Focused IT (1.02 per cent), IT (0.94 per cent), Financial Services (0.85 per cent), Consumer Discretionary (0.75 per cent) and Top 10 Banks (0.69 per cent) also advanced.