Indian shares snap losing run led by IT, financials as bond markets steady

Business Recorder reported that Indian shares ended a losing run on Thursday, with the Nifty 50 up 0.64% at 24,231.85 and the BSE Sensex 0.82% higher at 77,537.72. The Nifty had fallen for seven straight sessions, while the Sensex had been down for four sessions. Information technology and financial stocks led the rebound, which tracked a wider global recovery.

The move followed a US Treasury plan to double buyback sizes for long-duration debt, aimed at curbing a recent jump in bond yields. According to the report, the step eased worries about rising borrowing costs and pushed the dollar lower, while Brent neared a near one-month high on Middle East tensions. Fourteen of the 16 major sectors gained, with small-caps up 0.7% and mid-caps up 0.4%.

Within the market, the IT index rose 0.8%, extending its two-session gain to 1.5% after losing about 4% in the previous three sessions. Gold-loan lenders Manappuram Finance and Muthoot Finance climbed 2.7% and 3.9% as gold prices rose, while Turtlemint Fintech jumped 4.1% after Jefferies began coverage. Power Finance Corp and REC fell 2.8% and 2.6% following a Morgan Stanley downgrade.