Indices Snap Five-Day Losing Run; Sensex Climbs 574 Points, Nifty Ends At 17,137
Stock Market today: Ultratech Cement, RIL, Maruti Suzuki, Asian Paints, Bharti Airtel, and TCS were the top Sensex gainers, advancing between 2.4 per cent and 3.4 per cent
New Delhi: The key Indian equity benchmarks, Sensex and Nifty, on Wednesday halted their 5-session losing streak and ended higher, led by gains in IT, auto, and FMCG stocks.
The 30-share BSE platform rose 574 points (1.02 per cent) to close at 57,038, while the broader NSE Nifty moved 178 points (1.05 per cent) higher to end at 17,137.
Ultratech Cement, RIL, Maruti Suzuki, Asian Paints, Bharti Airtel, and TCS were the top Sensex gainers, advancing between 2.4 per cent and 3.4 per cent.
On the flip side, Bajaj twins, ICICI Bank, ITC, L&T, and Tata Steel were the top laggards, down up to 3 per cent.
In the broader market, the BSE Midcap and Smallcap indices added up to 0.5 per cent.
Sectorally, the Nifty Metal index was the top loser, falling 0.3 per cent, while the Nifty Auto index was the biggest gainer, up 2.4 per cent. Nifty Oil & Gas and Nifty IT outperformed the index by rising as much as 2.20 per cent, 1.94 per cent and 1.16 per cent, respectively.
10 out of the 15 sector gauges, compiled by the National Stock Exchange, ended in the green.
On Tuesday, Sensex finished 703 points (1.23 per cent) lower at 56,463 points. NSE Nifty declined 215 points (1.25 per cent) to settle at 16,958 points.
"With support from recovery in beaten-down HDFC stocks and the IT sector, the market countered yesterday's selloff. Foreign investors are pumping out funds in large quantities while support from DIIs is helping the market to partially balance the pressure," Vinod Nair, head of Research at Geojit Financial Services, told the PTI.
Elsewhere in Asia, markets in Hong Kong, Seoul and Shanghai settled lower, while Tokyo ended with gains.
Markets in Europe were trading higher in the afternoon session. European stocks saw some positive gains after opening around the flatline on Wednesday as investors monitor developments in Ukraine and assess the IMF's latest global economic forecasts.
Stocks in the US had ended significantly higher on Tuesday.
International oil benchmark Brent crude gained 0.89 per cent to $108.2 per barrel.
Foreign institutional investors continued their selling spree, offloading shares worth a net Rs 5,871.69 crore on Tuesday, according to stock exchange data.
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