Stock Markets rebound in early trade; Sensex jumps 553 points

Mumbai: Indian equity benchmarks recovered in early trade on Wednesday after a sharp fall in the previous session, supported by gains in banking stocks and easing concerns over U.S. interest rates.

The 30-share BSE Sensex jumped 553 points to 77,603.57 in early trade. The 50-share NSE Nifty rose 148.15 points to 24,198.40.

Market sentiment got a lift after softer-than-expected U.S. inflation data reinforced expectations that the U.S. Federal Reserve may adopt a less aggressive monetary policy stance in the coming months.

Banking stocks led the rebound on the domestic front, helping indices recover losses from Tuesday’s decline.

Analysts said the early gains reflect improved global cues and bargain buying after the previous session’s sell-off. Investors will now watch for further direction from global markets and domestic corporate earnings.