Reversing a four-session slide, market benchmark Sensex surged over 665 points on Thursday as investors piled into recently beaten down banking, auto, IT and FMCG stocks ahead of the Union Budget.

Trading sentiment was also upbeat following US Federal Reserve’s dovish policy stance, which propelled global equities.

The BSE benchmark Sensex Wednesday rallied over 250 points on heavy buying in metal, IT and banking stocks amid positive cues from other Asian markets ahead of US-China trade talks and US Fed policy meet outcome.

The 30-share index was trading 188.10 points, or 0.5 per cent, higher at 35,780.60.

MUMBAI: The equity markets started the week on a negative note extending their fall for the second consecutive day following fresh selling in financial and automobile stocks.

The Sensex slumped 368.84 points or 1.02 per cent to end the day at 35,656.70 while the Nifty closed the session at 10,661.55, down 119 points or 1.10 per cent.

Shares of ICICI Bank were trading lower for the eighth straight day at Rs 338, down 5 per cent on the BSE, on the back of heavy volumes. It was trading at its lowest level since December 11, 2018.

The stock of private sector lender has fallen 10 per cent since January 16, 2019, as compared to a 2 per cent fall in the S&P BSE Sensex. It hit a record high of Rs 383 on January 9, on the BSE in the intra-day trade.

Shares of Dish TV India hit a 10-year low of Rs 19.10 apiece, down 15 per cent on the National Stock Exchange (NSE) in the intra-day trade on Monday, despite clarification that the company had no dealings whatsoever with Nityank Infrapower and Multiventures Ltd, as per the media reports.

Today, the stock climbed as much as 11 per cent to Rs 24.80 in the intra-day session on NSE.

Shares of Larsen & Toubro (L&T) were up 4 per cent to Rs 1,337 apiece on BSE in the early morning trade in an otherwise weak market after the company reported 37 per cent year-on-year (YoY) rise in consolidated net profit at Rs 2,042 crore in December quarter (Q3FY19). The healthy performance during the quarter was on back of improved operating performance and a higher other income.

Domestic equity market on Thursday witnessed moderate recovery after choppy trade as both Sensex and Nifty reversed their two-day losing spell on the back of gains in heavyweights RIL, ITC and Yes Bank.

During the session, the BSE benchmark Sensex swung over 260 points both ways on alternate bouts of buying and selling by participants.

The benchmark Sensex rose marginally in early trade on January 24, reversing its two-session losing streak on buying in select bluechips by domestic investors amid positive Asian cues.

Investor sentiment, however, was cautious amid global headwinds, turning key indices choppy.

Benchmark equity indices started on a cautious note, staging a moderate recovery in early trade Wednesday, following tepid sentiment in other Asian markets.

A stronger rupee against the dollar and easing crude prices also influenced market sentiment.

The benchmark BSE Sensex fell over 100 points on Tuesday after a five-session winning spree as investors cashed profits in IT, metal, banking, consumer durables, power and auto shares amid sustained foreign fund outflows.

Cues from other Asian markets were weak too.

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