The markets gave up the day's gains in afternoon before returning to the positive zone
- Axis Bank, HCL Tech, HDFC, Tata Consultancy (TCS), Kotak Mahindra Bank and Mahindra & Mahindra led the gains on Sensex, settling between 1.19 per cent and 1.91 per cent higher.
- The S&P BSE Sensex surged as much as 147.13 points during the session to touch 36,468.42 at the day's highest point, while the Nifty50 advanced by 40.35 points to register an intraday high of 10,930.65.
- Indices swung between positive and negative territory during the session as uncertainty prevailed ahead of the interim budget and key corporate results, said Paras Bothra, President, Equity Research, Ashika Group.
- IT stocks supported the market on account of weaker rupee, while real estate stocks also witnessed positive momentum as there are signs that worst may be over for the sector, Mr Bothra added.
- Analysts also awaited more large cap companies to report their earnings for the October-December period.
- "Focus is naturally on stocks that are due to post results. We continue to remain in a broad range," news agency Reuters cited Arun Kejriwal, founder of advisory firm Kejriwal Research, as saying. "However, the mood is still bearish. At every rally people are shorting the market."
- Jet Airways closed 5.3 per cent higher after State Bank of India (SBI) said lenders of the airline were considering a restructuring plan for the debt-laden carrier.
- Reliance Industries shares closed 0.3 per cent lower, ahead of the earnings announcement by the company later in the day.
- According to Vinod Nair, Head of Research, Geojit Financial Services, global trade tensions and risk of recession will cast cloud over the sentiment while lack of major triggers in the domestic market could steer a range-bound movement in the near term.
- Equities in Asian peers, meanwhile, were little changed on Thursday as worries over China's economic outlook were pacified by British Prime Minister Theresa May's overnight confidence vote win over Brexit. (With inputs from agencies)
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