Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
After starting the day on a strong note, domestic markets witnessed a volatile trade and ended flat on Wednesday, weighed down by Reliance Industries and HDFC Bank.
After rallying 452 points during the day, the BSE Sensex tumbled into the red territory to end 24.58 points or 0.07 per cent lower at 37,663.33 levels, while NSE Nifty inched up 6.40 points or 0.06 per cent to close at 11,101.65. Of the Sensex’s 30 constituents, 19 ended in green while 11 others declined.
HDFC Bank and Reliance Industries were among the top laggards, tumbling over 1 per cent, as investors booked profits after their recent bull run.
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PowerGrid, Tech Mahindra, Infosys, Nestle India and HCL Tech too ended with losses.
On the other hand, Tata Steel rallied over 6 per cent, followed by Titan, Maruti, Bharti Airtel and M&M.
In the broader market, the S&P MidCap and SmallCap ended 0.39 per cent and 0.85 per cent higher.
According to traders, despite positive cues from global markets and sustained foreign fund inflows, stock-specific action dictated domestic market movement during the day.
Bourses in Shanghai, Hong Kong and Seoul settled with gains, while Tokyo closed lower.
Stock exchanges in Europe were trading on a positive note in early deals.
Global oil benchmark Brent crude jumped 2.09 per cent to USD 45.36 per barrel.
In the forex market, the rupee settled with gains of 10 paise at 74.94 against the US dollar.
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