Stock Markets Recover As A Result Of Positive Trend In Asian, And European Equities

Sensex and Nifty recovered from early lows to close higher on Wednesday, mainly due to purchasing in Reliance Industries, Larsen & Toubro, and ITC as well as positive trends in Asian and European markets.

The 30-share BSE Sensex climbed by 173.22 points or 0.26 percent to 66,118.69. In the morning session, the index opened lower and fell further to a low of 65,549.96.

However, investments in Reliance, L&T, Infosys, and Maruti helped it recover losses. It later rose 226.8 points or 0.34 percent, to a high of 66,172.27.

The Nifty rose 51.75 points or 0.26 percent to 19,716.45. During the day, it traded between a low of 19,554 and a high of 19,730.70.

Larsen & Toubro, ITC, Sun Pharma, Maruti, Reliance Industries, Axis Bank, IndusInd Bank, and Hindustan Unilever were among the Sensex gainers.

The major laggards were Titan, State Bank of India, ICICI Bank, HDFC Bank, Tata Steel, and Nestle.

Seoul, Tokyo, Shanghai, and Hong Kong all finished in the green in the Asian markets.

The majority of European markets were trading in the green.

The US stock markets finished lower on Tuesday.

Brent crude gained 0.98 percent to $94.88 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 693.47 crore on Tuesday.

On Tuesday, the BSE benchmark declined 78.22 points or 0.12 percent to 65,945.47. The broader Nifty fell 9.85 points or 0.05 percent to 19,664.70.

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