Equity benchmark indices Sensex and Nifty pared all the losses to trade higher early on Thursday following buying in IT stocks and a rally in Asian markets.

The 30-share BSE Sensex opened on a negative note to plunge 202.87 points, or 0.26 per cent, to 76,202.12 in the morning trade. On the similar lines, NSE Nifty also fell 64.7 points, or 0.27 per cent, to 23,090.65.

However, BSE benchmark soon recovered the losses and rose 152.54 points, or 0.20 per cent, to trade at 76,557.53 while Nifty went up 37.10 points, or 0.16 per cent, to 23,192.45.

Among the Sensex shares, Zomato, UltraTech Cement, Tech Mahindra, Mahindra & Mahindra, Sun Pharmaceutical, Infosys, Tata Motors, Bajaj Finserv, and ITC were among the gainers.

Hindustan Unilever, Nestle India, State Bank of India, Axis Bank, HCL Technologies, Adani Ports, and Reliance Industries were among the laggards.

In Asian markets, Tokyo, Shanghai and Hong Kong were trading in positive territory while Seoul was quoting in the negative.

US markets ended higher in overnight deals on Wednesday.

Global oil benchmark Brent crude fell 0.34 per cent to USD 78.73 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,026.25 crore on Wednesday, according to exchange data.

On Wednesday, the 30-share BSE Sensex surged 566.63 points to close at 76,404.99 and the NSE Nifty climbed 130.70 points to settle at 23,155.35.

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