Indian equity benchmark indices, Sensex and Nifty, rebounded sharply on Wednesday after a rally in IT stocks and sustained buying from domestic institutional investors, even as hopes of a breakthrough in India-US trade deal negotiations further lifted investor sentiment.
The 30-share BSE Sensex jumped 513.45 points, or 0.61 per cent, to settle at 85,186.47. During the day, the benchmark surged 563.75 points, or 0.66 per cent, to 85,236.77.
The 50-share NSE Nifty climbed 142.60 points, or 0.55 per cent, to 26,052.65.
From the Sensex pack, HCL Tech, Infosys, Tata Consultancy Services, Hindustan Unilever, Sun Pharma and Titan were among the biggest gainers.
In contrast, Tata Motors Passenger Vehicles, Maruti, Adani Ports and Bajaj Finance were among the laggards.
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Commerce and Industry Minister Piyush Goyal had said on Tuesday that India would only agree to a trade deal with the US if it is “fair, equitable and balanced”, adding that farmers’ and fishermen’s interests would be protected foremost.
In Asian markets meanwhile, South Korea’s Kospi, Japan’s Nikkei 225 index and Hong Kong’s Hang Seng index settled lower. In contrast, Shanghai’s SSE Composite index ended in the green.
Markets in Europe were trading mostly lower in mid-session deals, while US markets ended in negative territory on Tuesday.
Foreign institutional investors (FIIs) offloaded equities worth ₹728.82 crore on Tuesday. However, domestic institutional investors (DIIs) bought stocks worth ₹6,156.83 crore, according to exchange data.
Brent crude, the global oil benchmark, dipped 0.39 per cent to USD 64.64 per barrel.
On Tuesday, the Sensex declined 277.93 points or 0.33 per cent to settle at 84,673.02. The Nifty dipped 103.40 points or 0.40 per cent to 25,910.05.
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