Indian benchmark indices Sensex and Nifty staged a significant rebound, closing over 1 per cent higher, propelled by robust performances from IT stocks, HDFC Bank, and a resurgence in foreign fund inflows, navigating through a landscape of mixed global market signals.
Key Points
- The BSE Sensex surged 888.68 points (1.16%) to settle at 77,654.60, while the NSE Nifty climbed 264.85 points (1.10%) to end at 24,250.20.
- Key gainers included Hindustan Unilever, Infosys, Trent, Larsen & Toubro, Tata Steel, Bharti Airtel, Tata Consultancy Services, HCL Tech, and HDFC Bank.
- Foreign Institutional Investors (FIIs) turned buyers, injecting Rs 755.33 crore into equities in the previous trading session.
- The rebound was attributed to resilient domestic fundamentals, strong corporate earnings, and sustained buying in Information Technology stocks, despite weak global cues and Middle East tensions.
- Brent crude oil prices rose 3.79 per cent to USD 87.28 per barrel, while Asian markets showed mixed performance.
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.
Market Movers and Sectoral Performance
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, HCL Tech and HDFC Bank were also among the gainers.
Adani Ports, Mahindra & Mahindra, Power Grid, Bharat Electronics and NTPC were the laggards.
Foreign Institutional Investors (FIIs) turned buyers on Tuesday. They bought equities worth Rs 755.33 crore in the previous trade, according to exchange data.
Factors Driving the Rebound
"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 $87.28 per barrel.
Global Market Overview
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.
