Equity benchmark indices Sensex and Nifty recovered sharply by 1 percent on Wednesday after falling for the previous two days, boosted by bargain hunting in metal, commodity, and telecom stocks.
The 30-share BSE Sensex eventually gained ground, rising 689.76 points, or 0.98 percent, to 71,060.31. The benchmark traded between an intraday high of 71,149.61 and a low of 70,001.60.
The broader NSE Nifty closed 215.15 points or 1.01 percent higher to 21,453.95.
Among the Sensex firms, major winners included Tata Steel, rising 3.77 percent, followed by HCL Tech, which gained 3.62 percent.
IndusInd Bank and PowerGrid, Tech Mahindra, Hindustan Unilever, Bajaj Finserve, and Bharti Airtel were the top Sensex gainers.
Among the laggards were ICICI Bank, Axis Bank, Asian Paints, Bajaj Finance, and TCS.
Brent crude gained 0.58 percent to USD 79.41 per barrel on Wednesday.
In the Asia markets, Japan’s Nikkei 225, and South Korean Kospi ended down, while China’s Shanghai Composite and Hong Kong’s Hang Seng ended higher.
On Wednesday, European stock markets were trading higher.
In the United States markets, the Dow closed 0.25 percent lower, while the S&P 500 closed 0.29 percent higher, and the tech-heavy Nasdaq closed 0.43 percent higher on Tuesday.
According to the exchange data, Foreign Institutional Investors (FIIs) offloaded shares worth Rs 3,115.39 crore on Tuesday.
On Tuesday, Sensex perished 1,053.10 points or 1.47 percent to 70,370.55, while Nifty plummeted 330.15 points or 1.53 percent to 21,241.65.
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