Ahead Of Budget And US Fed Interest Rate Announcement, Equity Markets Rebound

Benchmark equity indices rose about 1 percent on Wednesday due to buying in HDFC Bank and Reliance Industries.

Investors are looking forward to the two key events: the interim budget and the US Fed interest rate decision, which will provide additional cues.

The 30-share BSE Sensex recovered all its early losses, rising 612.21 points or 0.86 percent to 71,752.11. During the day, it elevated 711.49 points or 1 percent to 71,851.39.

The Nifty advanced 203.60 points or 0.95 percent to 21,725.70.

Sun Pharma, Tata Motors, State Bank of India, Mahindra & Mahindra, Maruti, Bajaj Finserv, Power Grid, and UltraTech Cement were the Sensex’s top gainers.

Among the top laggards were Larsen & Toubro And Titan.

In Asian markets, Tokyo, Shanghai, and Hong Kong closed lower, while Seoul closed higher.

European stocks were trading on a mixed note.

On Tuesday, the US markets closed mainly down.

Brent crude lost 0.91 percent to USD 82.12 per barrel.

According to the exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 1,970.52 crore on Tuesday.

On Tuesday, the BSE benchmark shed 801.67 points or 1.11 percent to 71,139.90, while the Nifty sank 215.50 points or 0.99 percent to 21,522.10.

Also read: Argentine Football Association And ITC Collaborate To Market Food Brands