Markets closing bell: Sensex rises 659 points to settle at 59,688, Nifty ends at 17,799

Tech Mahindra, Axis Bank, ICICI Bank, Mahindra & Mahindra, Bharti Airtel, State Bank of India, UltraTech Cement, Bajaj Finserv, IndusInd Bank and Asian Paints emerged as the biggest gainers amonf Sensex shares.

Benchmark stock indices rebounded around 1 per cent on Thursday following value buying in banking, IT and auto stocks after two days of losses and a largely positive trend in global markets.

BSE Sensex (File Photo)

The 30-share BSE Sensex climbed 659.31 points or 1.12 per cent to settle at 59,688.22. During the day, it jumped 683.05 points or 1.15 per cent to 59,711.96.

The broader NSE Nifty rose by 174.35 points or 0.99 per cent to close at 17,798.75.

Tech Mahindra, Axis Bank, ICICI Bank, Mahindra & Mahindra, Bharti Airtel, State Bank of India, UltraTech Cement, Bajaj Finserv, IndusInd Bank and Asian Paints emerged as the biggest gainers amonf Sensex shares.

Tata Steel, NTPC, Titan, Nestle and Power Grid were the laggards.

"The domestic financial markets experienced a wave of optimism tracking strength across global markets as oil prices eased, cooling investor concerns about rising inflation. Despite premium valuations, consistent FII inflows are aiding Indian bourses to stay resilient," Vinod Nair, Head of Research at Geojit Financial Services.

Elsewhere in Asia, markets in Seoul and Tokyo ended in the green, while Shanghai and Hong Kong settled lower.

Equities in Europe were trading on a mixed note during the mid-session deals. The US markets had ended significantly higher on Wednesday.

Meanwhile, the international oil benchmark Brent crude dipped 0.49 per cent to USD 87.57 per barrel.

Foreign institutional investors (FIIs) were net buyers as they bought shares worth ₹758.37 crore on Wednesday, as per exchange data.