* NSE index up 0.47 pct, BSE index 0.46 pct higher
* Market range-bound
* Wall Street recovery helps gains
By Aby Jose Koilparambil
March 23 Indian stocks rose on Thursday tracking
a recovery in global markets with energy shares leading the
gains while financial and auto shares bounced back.
Key indexes had on Wednesday recorded their highest intraday
loss in over two months, triggered by a slump on the Wall Street
due to a lack of clarity in U.S President Donald Trump's
U.S. shares recovered on Wednesday while Asian stocks rose
on Thursday, taking cues from gains on Wall Street.
"The bounce-back is due to both global and local factors.
Mutual funds are getting record-high inflows everyday. Flows
have been very strong on both domestic and FII (Foreign
Institutional Investors) fronts," said Miraj Vora, derivative
analyst at Prabhudas Lilladher Pvt Ltd.
As per the provisional data available on the NSE website,
FIIs were net buyers of stocks worth 3.57 billion rupees on
The broader NSE index was up 0.47 percent at
9,072.50 by 0610 GMT, while the benchmark BSE index was
0.46 percent higher at 29,300.41.
"We are heading into the expiry week. So there would be
pressure on that front. It's looking very difficult for the
Nifty to cross the 9,150-9,200 levels on the upside or break
9,000 on the lower side for this expiry," added Vora.
Energy sector topped the gains on the NSE index while the
S&P BSE Oil & Gas index gained 1.42 percent. Major oil
marketing companies, including Bharat Petroleum Corp Ltd
, Hindustan Petroleum Corp Ltd and Indian Oil
Corp Ltd, were all up more than 2 percent each even as
oil prices remained under pressure.
The finance and the auto sector recovered from the previous
ICICI Bank gained 1 percent and Tata Motors
was trading 2.4 percent higher, after falling 2.6
percent and 2.9 percent, respectively, on Wednesday.
"Banks have recovered today, but a meeting to discuss waiver
of farm loans is scheduled on Friday and if something drastic
comes out of that meeting, we may see banks facing some
pressure," added Vora.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by