Sensex gained 526.01 points or 0.73 per cent,
BBN Bureau
Mumbai: Buying in banking, auto, and oil shares contributed to the rebound of indices on March 27 (Wednesday). When the closing bell rang, the benchmark Sensex was up by 526 points, and the Nifty stood at 22,100 points.
The 30-share BSE Sensex gained 526.01 points or 0.73 per cent, closing at 72,996.31, with 18 of its stocks advancing and 12 closing lower. During intra-day trading, the Sensex surged by 666.43 points or 0.92 per cent to reach 73,138.73.
The broader Nifty of NSE rebounded by 118.95 points or 0.54 per cent, closing at 22,123.65. Among Nifty shares, 22 gained, while 27 declined, and one closed unchanged.
Auto, banking, and energy shares supported the recovery, while FMCG and IT shares declined due to profit-taking.
Reliance Industries led the gains among Sensex shares, rising by 3.6 percent, contributing more than 312 points to the upside. Other major gainers included Maruti, Bajaj Finance, Titan, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Mahindra & Mahindra, and Larsen & Toubro.
On the other hand, Wipro, HCL Technologies, Nestle, Tata Consultancy Services, and Tata Motors were among the laggards.
Vinod Nair, Head of Research at Geojit Financial Services, commented, “Stock-specific actions and positive undercurrents due to a healthy economic growth forecast led the market towards a positive closure. However, due to the holiday-led truncated week, investors are now focusing on US GDP data tomorrow and next week’s RBI policy announcement to gauge market direction. The mid- and small-cap space are outperforming as investors got bargaining opportunities, but volumes are low.”
In the broader market, the BSE smallcap gauge climbed 0.70 percent, while the midcap index went up by 0.01 percent.
Among the indices, services jumped 1.01 per cent, capital goods climbed 1 per cent, consumer durables (0.98 percent), industrials (0.97 per cent), and realty (0.93 per cent). Commodities, IT, utilities, metal, and teck were the laggards.
In Asian markets, Tokyo settled in the positive territory, while Seoul, Shanghai, and Hong Kong ended lower. European markets were trading on a mixed note, and Wall Street ended in negative territory on Tuesday.
Foreign Institutional Investors (FIIs) turned net buyers on Tuesday, as they bought equities worth Rs 10.13 crore, according to exchange data.
The global oil benchmark Brent crude declined 0.96 percent to $85.42 a barrel.
On Tuesday, the BSE benchmark declined by 361.64 points or 0.50 percent to settle at 72,470.30, while the NSE Nifty dropped 92.05 points or 0.42 percent to 22,004.70.d
