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Indian shares ended on a strong note on Thursday, rebounding well from recent losses and an early sharp plunge, as positive global cues helped offset worries about the worsening pandemic situation.<\/p>\n
Bank and metal stocks turned in a good performance, contributing substantially to market’s gains. Pharmaceuticals, information technology<\/span> and FMCG shares were among the notable losers.<\/p>\n The BSE benchmark Sensex, which plummeted by about 500 points at the start to 47,204.50, rallied to 48,143.16 before settling for the day at 18,080.67, netting a gain of 374.87 points or 0.79%.<\/p>\n The broader 50 index of the National Stock Exchange ended with a gain of 109.75 points or 0.77% at 14,406.15, well off the day’s low of 14,151.40.<\/p>\n Wipro, ICICI Bank, Tata Steel, JSW Steel, HDFC, BPCL, Bajaj Auto, Kotak Bank, Adani Ports, HDFC Bank and State Bank of India gained 2 to 3.5%.<\/p>\n Shree Cement, Titan Industries, Hindustan Unilever, Tech Mahindra, Asian Paints, UltraTech Cement and Mahindra & Mahindra were among the prominent losers.<\/p>\n The early plunge was due to rising worries about the spread of the coronavirus<\/span> infections across the country. India reported more than 3 lakh COVID-19 on Wednesday, with as many as 3,15,660 new cases and 2,091 deaths being recorded in the country till about an hour before midnight.<\/p>\n Although the government has stated that lockdown will be a last resort, the relentless surge in new cases raised fears that the country may have to resort to widespread restrictions to prevent the spread of the pandemic.<\/p>\n However, expectations that the mass vaccination drive planned by the government will help curb the spread of the pandemic prompted traders to pick up stocks. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n