Indian equity markets, including the Sensex and Nifty, experienced a significant rebound in early trade, buoyed by robust buying in blue-chip stocks and a positive sentiment from Asian markets, despite continued selling by Foreign Institutional Investors.
Sensex and Nifty50 Rally: Key Highlights from Today’s Market
- Indian equity benchmarks Sensex and Nifty saw a rebound in early trade, with the Sensex climbing 358.92 points and the Nifty gaining 101.2 points.
- The rally was primarily supported by buying interest in blue-chip stocks and a positive trend observed across major Asian markets.
- Domestic Institutional Investors (DIIs) continued to provide support by buying equities worth Rs 1,712.01 crore, helping to cushion market downsides.
- Despite the rebound, Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth Rs 2,103.74 crore on Tuesday.
- Maruti, ITC, Tech Mahindra, Infosys, Mahindra & Mahindra, and Reliance Industries were among the top gainers in the Sensex pack.
Equity benchmark indices Sensex and Nifty rebounded in early trade on Wednesday helped by buying in blue-chip stocks and a rally in Asian markets.
Buying by domestic institutional investors also offered support, helping cushion the downside moves, analysts said.
Top Gainers Today on Dalal Street
The 30-share BSE Sensex climbed 358.92 points to 77,245.83 in opening trade. The 50-share NSE Nifty went up by 101.2 points to 24,096.90.
From the 30-Sensex firms, Maruti, ITC, Tech Mahindra, Infosys, Mahindra & Mahindra and Reliance Industries were among the biggest gainers.
Tata Steel, Asian Paints, ICICI Bank and Axis Bank were among the laggards.
Global Market Cues Driving Indian Equities Higher
Brent crude, the global oil benchmark, traded 0.21 per cent lower at $111 per barrel.
In Asian markets, South Korea's benchmark Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng index traded higher.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,103.74 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,712.01 crore, according to exchange data.
"On the flows front, foreign institutional investors remain net sellers amid global risk aversion, while domestic institutional investors continue to offer some support, helping to cushion downside moves," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
