after-2-days-of-decline-sensex-jumps-444-points

Benchmark equity indices Sensex and Nifty rebounded sharply on Wednesday, snapping a two-session losing streak, supported by positive global market cues, easing crude oil prices and sustained buying in select heavyweight stocks.

The 30-share BSE Sensex surged 443.97 points, or 0.58 per cent, to close at 76,922.64. During intraday trade, the benchmark advanced as much as 631.41 points, or 0.82 per cent, to touch a high of 77,110.08 before giving up some gains in the latter half of the session.

The broader NSE Nifty also ended firmly in positive territory, climbing 140.10 points, or 0.59 per cent, to settle above the key 24,000-mark at 24,005.85, reflecting improved investor sentiment across sectors.

 

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Among the Sensex constituents, Eternal, Asian Paints, Hindustan Unilever, Adani Ports, Mahindra & Mahindra and State Bank of India emerged as the top gainers, driven by strong buying interest. On the other hand, information technology stocks remained under pressure, with HCL Technologies, Tech Mahindra, Tata Consultancy Services, Infosys and Tata Steel finishing among the major laggards.

Investor sentiment also received support from softer crude oil prices. Brent crude, the global benchmark, declined 1.07 per cent to trade at USD 72.17 per barrel, easing concerns over inflationary pressures and import costs for oil-dependent economies such as India.

The broader market delivered a mixed performance. The BSE MidCap select index edged up 0.20 per cent, while the SmallCap Select index ended nearly flat with a marginal gain of 0.02 per cent, indicating selective buying beyond frontline stocks.

Market breadth remained positive on the BSE, with 2,276 stocks advancing compared to 1,995 declining, while 176 shares closed unchanged, reflecting a moderately optimistic trading session.

Across Asia, market performance was mixed. Japan's Nikkei 225 and China's Shanghai SSE Composite index ended the day with gains, supported by improved investor confidence, while South Korea's Kospi index settled lower amid cautious trading.

Overall, domestic equities recovered from recent losses as favourable global cues, lower crude oil prices and buying in consumer, banking and auto stocks outweighed weakness in the information technology sector.