The domestic equity markets ended in green on Wednesday, staging a robust recovery from early losses amid heavy buying in IT majors and select large-cap stocks.
The Sensex closed at 85,186.47, up 513.45 points or 0.61%. The 30-share index opened weak at 84,643.78, slipping below the previous close of 84,673.02. However, strong value buying pushed the index up by more than 700 points from the day’s low, helping it scale an intraday high of 85,236.77.
The Nifty 50 settled at 26,052.65, gaining 142.60 points or 0.55%.
Among the Sensex constituents, HCL Tech, Infosys, TCS, Hindustan Unilever, Sun Pharma, Titan, Tech Mahindra, ICICI Bank, SBI, BEL, Tata Steel, Mahindra & Mahindra, and L&T were the top gainers. Tata Motors PV, Maruti Suzuki, Bajaj Finance, Asian Paints, and ITC ended in the red.
Analysts attributed the rebound to renewed optimism surrounding a potential India-US trade deal, following encouraging statements from the Union Commerce Minister.
Most sectoral indices advanced on the back of value buying. Nifty IT surged 1,069 points or 2.97%, Nifty Auto gained 66 points or 0.24%, Nifty Bank climbed 316 points or 0.54%, and Nifty Financial Services added 96 points or 0.35%.
The broader market, however, showed mixed sentiment amid selling pressure in small-cap stocks and cautious buying in mid-caps. Nifty Midcap 100 rose 127 points or 0.21%, Nifty 100 advanced 121 points or 0.46%, while Nifty Smallcap 100 declined 78 points or 0.43%.
(IANS)
