The Nifty rose 94.9 points to 17,053.55 points.
The Nifty rose 94.9 points to 17,053.55 points.
The equity benchmark indices rallied on Wednesday, April 20, 2022 after falling for five straight sessions, with the Sensex climbing 324 points in early trade, helped by the recovery of Infosys and HDFC twins, as well as buying by Reliance Industries.
In addition, a broadly positive global market trend boosted investor sentiment.
BSE benchmark Sensex halted its five-day decline to trade 324.07 points higher at 56,787.22 points in opening trade. The Nifty rose 94.9 points to 17,053.55 points.
From the 30-stock Sensex package, early gainers included Reliance Industries, Maruti, Wipro, TCS, Nestle, M&M and Infosys. The two HDFC twins were also in the green.
Conversely, laggards included Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank and Larsen & Toubro.
On Tuesday, Sensex ended 703.59 points, or 1.23 percent lower, at 56,463.15 points. NSE Nifty fell 215 points, or 1.25 percent, to 16,958.65 points.
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.
“Traders are encouraged to describe the Indian economy’s recovery from the COVID-19 pandemic as clear and pronounced. Finance Minister Nirmala Sitharaman expressed confidence that India will see robust economic growth this decade,” said Mohit Nigam, Head – PMS at Hem Securities.
Describing the Indian economy’s recovery from the pandemic as “distinct” and “pronounced”, Sitharaman expressed confidence in India’s robust economic growth this decade.
Meanwhile in Asia, Hong Kong and Tokyo markets traded in the green on mid-session deals, while Seoul and Shanghai traded lower.
Stocks in the US had ended significantly higher on Tuesday.
International oil benchmark Brent crude fell 1.03 percent to $108.4 a barrel.
Overseas institutional investors continued their selling spree, selling shares worth Rs 5,871.69 crore net, according to stock market data on Tuesday.
