Sensex jumps 889 points, Nifty gains over 1 per cent
The Sensex and Nifty rebounded more than 1 per cent on Wednesday, driven by gains in IT stocks, HDFC Bank and foreign fund inflows. Strong corporate earnings and positive domestic fundamentals lifted investor sentiment despite weak global cues and higher crude oil prices
Mumbai: Benchmark indices Sensex and Nifty rebounded sharply and ended over 1 per cent higher on Wednesday, led by IT stocks, HDFC Bank and fresh foreign fund inflows.
The 30-share BSE Sensex jumped 888.68 points, or 1.16 per cent, to settle at 77,654.60. During the day, it surged 999.57 points, or 1.30 per cent, to 77,765.49.
The 50-share NSE Nifty climbed 264.85 points, or 1.10 per cent, to end at 24,250.20.
From the Sensex pack, Hindustan Unilever surged 4.70 per cent and Infosys jumped 4.50 per cent.
Trent, Larsen & Toubro, Tata Steel, Bharti Airtel, Tata Consultancy Services, HCLTech and HDFC Bank were also among the gainers.
Adani Ports, Mahindra & Mahindra, Power Grid, Bharat Electronics and NTPC were among the laggards.
Foreign Institutional Investors (FIIs) turned buyers on Tuesday. They bought equities worth Rs 755.33 crore in the previous trading session, according to exchange data.
“Indian equity markets ended higher ahead of the US Federal Reserve’s policy decision later today, with resilient domestic fundamentals outweighing weak global cues. Strong corporate earnings, sustained buying in Information Technology stocks and a firmer rupee helped support investor sentiment, even as Asian markets extended their AI-driven technology sell-off and elevated Middle East tensions kept crude oil prices near recent highs,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Brent crude, the global oil benchmark, jumped 3.79 per cent to USD 87.28 per barrel.
In Asian markets, South Korea’s KOSPI tanked 5.98 per cent. Japan’s Nikkei 225 also ended lower, while Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index settled higher.
Markets in Europe were trading mostly lower. US markets ended mostly higher on Tuesday.
On Tuesday, the Sensex dipped 69.86 points, or 0.09 per cent, to settle at 76,765.92. The Nifty slipped 10.60 points, or 0.04 per cent, to end at 23,985.35.
