Stock Market Rebounds: Sensex Jumps 138 Points, Nifty At 19,465. Auto, IT Up; Bank, Metals Drag

Stock update today: On the 30-share Sensex platform, UltraCemco, NTPC, Tata Motors, Infosys, M&M, PowerGrid emerged gainers

In the broader markets, the BSE Midcap index rose 0.2 per cent and Smallcap index added 0.5 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Wednesday rebounded sharply in late deals defying weak global trends. The domestic indices, however, opened trade in the red. The benchmark S&P BSE Sensex closed at 65,539, up 137.5 points. On the other hand, the NSE Nifty50 index ended at 19,465, up 30 points.

On the 30-share Sensex platform, UltraCemco, NTPC, Tata Motors, Infosys, M&M, PowerGrid emerged gainers. On the downside, Tata Steel, Airtel, Bajaj twins, Axis Bank, IndusInd Bank, JSW Steel were among the losers. Shares of SBFC Finance made a stellar debut at the exchanges, listing at 44 per cent premium of Rs 82 per share (over issue price of Rs 57 apiece) on the BSE. The shares settled at Rs 92.21 per share, up nearly 62 per cent over issue price

#ABPLiveStockMarketWatch | Sensex and Nifty rebounded sharply in late deals, on Wednesday

At 03:30 PM, #Sensex gains 137 points to 65,539 & #Nifty up 30 points to close at 19,465

Here's a look at the stocks in focus#ClosingBell #ABPLive #MarketWatch pic.twitter.com/WFGWJdq0y8

— ABP LIVE (@abplive) August 16, 2023

In the broader markets, the BSE Midcap index rose 0.2 per cent and Smallcap index added 0.5 per cent.

Sectorally, except bank and metals, all other sectoral indices ended in the green, with auto, power, realty, IT, pharma, and capital goods up 0.5-1 per cent.

In the previous session on Monday, the Sensex ended at 65,402, up 79 points, while the NSE Nifty50 closed at 19,435, up 6 points. The equity market remained closed on Tuesday on account of Independence Day.

"The initial apprehension stemming from an above-expected surge in domestic CPI inflation, driven by higher food prices, induced volatility in the Indian market. However, the market found some relief as the likelihood of this inflation-surge being transitory alleviated concerns, leading to a recovery in the latter part of the trading session," said Vinod Nair, Head of Research at Geojit Financial Services.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended in the negative territory. European markets were trading mostly in the green. The US markets ended lower on Tuesday.

Global oil benchmark Brent crude climbed 0.01 per cent to $84.90 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,324.23 crore on Monday, according to exchange data.