Indian Shares Rebound After Three-day Selloff

(RTTNews) - Indian shares rebounded on Thursday to snap a three-day losing streak amid eased EU-U.S. tensions over Greenland.

Trading, however, remained volatile on the back of continued FII outflows.

Global cues were positive after U.S. President Donald Trump dropped plans to impose tariffs on several European countries over Greenland, saying a "framework" for a potential agreement with respect to the entire Arctic Region has been reached after talks with Nato.

Long-dated Japanese debt rebounded from its losses and there was talk of India and the EU moving closer to finalizing a long-pending free trade agreement, adding to the positive sentiment in markets.

The BSE Sensex hit an intraday high of 82,783.18 before paring some gains to end the session up 397.74 points, or 0.49 percent, at 82,307.37.

The broader NSE Nifty index closed up 132.40 points, or 0.53 percent, at 25,289.90, after hitting a high of 25,435.75 earlier.

The BSE mid-cap and small-cap indexes surged 1.3 percent and 1.1 percent, respectively.

The market breadth was positive on the BSE, with 2,951 shares rising while 1,280 shares declined and 154 shares closed unchanged.

Among the top gainers, Bajaj FinServ, SBI, Adani Ports, Tata Steel and BEL jumped 2-4 percent.