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Sensex, Nifty Rebound After Three Days Of Losses

Indian shares rebounded on Thursday as oil prices tumbled and investors cheered positive earnings updates from the likes of Larsen & Toubro and Axis Bank.

The benchmark S&P BSE Sensex jumped 271.02 points, or 0.66 percent, to 41,386.40, while the broader NSE Nifty index climbed 73 points, or 0.60 percent, to 12,179.90.

Overall gains were capped by worries over the spread of a new flu-like virus in China and caution ahead of the European Central Bank's first policy decision of the year later in the day.

SBI Life Insurance added 1.7 percent on reporting a 47.5 percent jump in quarterly net profit.

Oil India rose 1.2 percent after it moved Supreme Court seeking clarification/modification of its earlier AGR verdict.

Larsen & Toubro rallied 2.8 percent after reiterating its FY20 guidance.

State-run oil marketing firm BPCL rallied 2.7 percent and IOC surged as much as 5.9 percent after oil prices hit seven-week low on concerns that the virus outbreak may dent fuel demand.

Axis Bank advanced 1.6 percent as it reported strong long growth in the third quarter.

Vodafone Idea soared 5.4 percent and Bharti Airtel added 2.1 percent after they informed the telecom department that they will pay adjusted gross revenue dues only after hearing the Supreme Court's decision.

On the flip side, Zee Entertainment Enterprises fell 7.2 percent after recent strong gains and UPL lost 4 percent.

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