India's stock market rebounded on Thursday, snapping a three-session losing streak, driven by gains in Reliance Industries Ltd. and metal stocks.
The Nifty 50 rose 1.17% to 24,765.90, while the BSE Sensex added 1.14% to 80,015.90. Fifteen of the 16 major sectors logged gains, with the broader small-caps and mid-caps rising 1.6% and 1.5%, respectively.
Reliance Industries shares surged 3.3% after losing about 4.5% over the last three sessions, with brokerages JM Financial and CLSA saying the recent correction in the stock was overdone.
Gains in Reliance powered energy and oil and gas indexes 1.9% and 1.6% higher, respectively. About 2,210 of the 3,336 stocks in the NSE universe advanced, outweighing the decline in 1,039 stocks.
Hindalco Industries Ltd. and Nalco Ltd. jumped 3.6% and 6%, leading the metal index 2.3% higher, on rising aluminium prices due to supply concerns.
