Mumbai, Aug. 20 -- The Indian equity market rebounded on Thursday, with the Sensex rising over 400 points and the Nifty holding above 24,200, snapping a week-long losing streak. The recovery came on the back of falling US bond yields, short-covering and other factors that boosted investor sentiment.

Both benchmark indices opened with a sharp gap-up. The Sensex opened at 77,468.45, against the previous close of 76,909.68, and hit a high of 77,494.79 in the early morning session. Likewise, the Nifty opened at 24,225.45, against the previous close of 24,078.30. The index hit a high of 24,225.45 during the same period.

At the time of reporting, the Sensex was trading at around 77,392.32, up 482.64 points, or 0.63 per cent, while the Nifty w...