MUMBAI, India — Indian equity markets rebounded sharply on Wednesday, with the Sensex surging 513 points as heavy buying in IT heavyweights and select large-cap stocks helped the indices recover from early losses.
The Sensex closed at 85,186.47, up 513.45 points or 0.61 percent. The index opened weak at 84,643.78, slipping into negative territory before rebounding more than 700 points to touch an intraday high of 85,236.77, driven by strong value buying.
The Nifty 50 also ended higher at 26,052.65, gaining 142.60 points or 0.55 percent.
According to Ashika Institutional Equities, “The index initially slipped into negative territory but found strong buying interest near the 25,850 support zone. From there, bulls took charge, propelling Nifty to reclaim and test the technically and psychologically crucial 26,000 mark.”
Top gainers on the Sensex included HCL Technologies, Infosys, TCS, Hindustan Unilever, Sun Pharma, Titan, Tech Mahindra, ICICI Bank, SBI, BEL, Tata Steel, Mahindra & Mahindra, and Larsen & Toubro. Among the laggards were Tata Motors PV, Maruti Suzuki, Bajaj Finance, Asian Paints, and ITC.
Analysts said renewed optimism surrounding an India-U.S. trade deal — following encouraging remarks from India’s Commerce Minister — boosted market sentiment and supported the afternoon rally.
Most sectoral indices closed in the green. Nifty IT led the surge, soaring 1,069 points or 2.97 percent, followed by gains in Nifty Auto (up 66 points or 0.24 percent), Nifty Bank (up 316 points or 0.54 percent), and Nifty Financial Services (up 96 points or 0.35 percent).
Broader markets delivered a mixed performance. Nifty Midcap 100 rose 127 points (0.21 percent) and Nifty 100 gained 121 points (0.46 percent), while Nifty Smallcap 100 slipped 78 points (0.43 percent) amid selective selling pressure. (Source: IANS)
