FX.co ★ Sensex, Nifty Recover After Early Slide

Indian shares rebounded from early losses to trade modestly higher on Thursday, buoyed by positive earnings from U.S. chipmaker Nvidia, which helped offset concerns stemming from the hawkish minutes of the Federal Reserve's recent meeting.

The benchmark S&P BSE Sensex climbed 220 points, or 0.3%, to 74,475 in early trading, while the broader NSE Nifty index increased by 82 points, or 0.4%, to 22,679.

FSN E-Commerce Ventures saw a 1% rise after reporting a substantial 187% increase in its consolidated net profit for the fourth quarter ending March 2024.

Jubilant FoodWorks added 1.5%, buoyed by a sevenfold surge in its Q4 net profit.

ITC experienced a slight uptick ahead of its earnings announcement.

Metro Brands rose by 2.1%, and Gland Pharma surged 5.6%, both companies benefiting from robust earnings reports.

Conversely, One97 Communications dropped 2.2% after posting a wider Q4 net loss compared to the previous year.

Sun Pharma declined by 4.2% despite exceeding profit estimates for the fourth quarter. Power Grid Corporation fell 4% following a 3.6% decline in its consolidated net profit for the March quarter.

Grasim shed 0.7% due to underwhelming Q4 results.