Benchmark indices rallied on Wednesday after falling five straight sessions, with the Sensex climbing 574.35 points, helped by the purchase of Reliance Industries and the recovery of Infosys, TCS and HDFC Twins.
Broadly positive performance in global equities also helped benchmarks bounce back.
The BSE Sensex halted its five-day decline, rising 574.35 points, or 1.02%, to 57,037.50. Over the day, the index rose 753.36 points, or 1.33%, to 57,216.51.
The NSE Nifty rose 177.90 points, or 1.05%, to 17,136.55.
“The market was able to counteract yesterday’s sell-off with the support of the recovery in battered HDFC shares and the IT sector. Foreign investors are pumping out funds in bulk, while support for DIIs is helping the market partially offset the pressure,” said Vinod Nair , research director at Geojit Financial Services.
The 30-share Sensex package included UltraTech Cement, Maruti, Reliance Industries, Asian Paints, TCS, Hindustan Unilever Limited, Bharti Airtel, HDFC and Dr. Reddy’s among the big winners.
In contrast, Bajaj Finance, ICICI Bank, Bajaj Finserv, Tata Steel and ITC were among the prominent laggards.
Both benchmark indices closed in the red for the fifth day in a row on Tuesday. Sensex had lost a whopping 2,984.03 points over five sessions, while the Nifty lost 825.70 points.
Elsewhere in Asia, Hong Kong, Seoul and Shanghai markets fell while Tokyo ended with gains.
Markets in Europe traded higher in the afternoon session.
Stocks in the US had ended significantly higher on Tuesday.
International oil benchmark Brent rose 0.89% to $108.2 a barrel.
Overseas institutional investors continued their selling spree, selling shares for a net 5,871.69 crore, according to stock market data on Tuesday.
