Stock Market: Sensex Rises 213 Points, Nifty Around 19,450. Bank, Metals, Capital Goods Lead

Stock update: On the 30-share Sensex platform, SBI, ICICI Bank, L&T, Tata Steel, Maruti, Kotak Bank emerged gainers. Jio Fin, Sun Pharma, Airtel, Tata Motors, TechM, ITC were among the losers

The two key equity benchmarks, Sensex and Nifty, on Wednesday rebounded after paring the losses and closed in the green. The domestic indices gained on the renewed buying interest in banking stocks. The S&P BSE Sensex settled 213 points higher at 65,433. On the other hand, the NSE Nifty 50 closed with a gain of 48 points to 19,444.

On the 30-share Sensex platform, SBI, ICICI Bank, L&T, Tata Steel, Maruti, Kotak Bank emerged gainers. On the downside, Jio Fin, Sun Pharma, Airtel, Tata Motors, TechM, ITC were among the losers.

Shares of aerospace firms, including L&T, MTAR Technologies, and Paras Defence, that have supplied components for Chandrayaan-3, were buzzing in trade on Wednesday as India prepared to land its spacecraft on the Moon.

In the broader market, the BSE Midcap index was up 0.4 per cent and the SmallCap index added 0.6 per cent.

The market breadth was fairly positive, with nearly 2,100 shares advancing as against 1,530-odd declining stocks on the BSE.

Sectorally, bank, metal, capital goods, and realty up 0.4-1 per cent each, while power, FMCG, and oil & gas down 0.3-1 per cent.

In the previous session on Tuesday, the S&P BSE Sensex ended on a flat at 65,220, up 4 points, while the NSE Nifty50 closed at 19,396, rising 3 points.

"On the domestic front, sentiments remained positive, backed by strong demand in the banking sector, though IT and pharma limited the gains," said Vinod Nair, Head of Research at Geojit Financial Services. Global markets have restrained from making significant moves as they await the outcome of the central bankers' gathering at Jackson Hole scheduled for Friday, Nair added.

In Asian markets, Tokyo, and Hong Kong settled in the green while Seoul and Shanghai ended lower. European markets were trading with gains. The US markets ended on a mixed note on Tuesday.

Global oil benchmark Brent crude declined 0.83 per cent to $83.33 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth Rs 495.17 crore on Tuesday, according to exchange data.

Meanwhile, the rupee strengthened for the second consecutive session and appreciated by 28 paise, registering the highest single-day gain in nearly two months, to close at 82.71 (provisional) against the US dollar on Wednesday. Softening of crude oil prices also supported the domestic unit. However, FII outflows and a strong US dollar capped sharp gains.

At the interbank foreign exchange market, the local unit opened at 83.02 against the US dollar and moved in a range of 82.68 to 83.02 in the day trade. The rupee finally settled 28 paise higher at 82.71 (provisional) against the previous close. Earlier, the Indian currency had witnessed the highest single-day gain of 35 paise on June 16 this year. On Tuesday, the rupee had recovered from its all-time low levels and settled higher by 14 paise at 82.99 against the US dollar.