Stock Market Today: Sensex Rises 272 Points; Nifty Around 21,600 Amid Volatility. Media, IT, Metal Lead

Stock update: On the 30-share Sensex platform, Reliance, HCL, ICICI Bank, Tata Motors, IndusInd Bank, JSW Steel were among the lead gainers

The two key equity benchmarks, Sensex and Nifty, on Wednesday managed to close in the green amid high volatility. The S&P BSE Sensex ended 272 points higher at 71,658. It hit a day's low of 71,111. On the other hand, the NSE Nifty 50 gained 74 points to end at 21,619. It bounced back from a low of 21,449.

On the 30-share Sensex platform, Reliance, HCL, ICICI Bank, Tata Motors, IndusInd Bank, JSW Steel were among the lead gainers. On the downside, NTPC, PowerGrid, UltraCemco, Axis Bank, Infosys, SBI emerged losers.

A total of 1,772 shares advanced, 1,495 declined, and 75 shares remain unchanged.

In the broader markets, the BSE Midcap and Smallcap ended 0.2 and 0.3 per cent, respectively.

Sectorally, media was the top performer with gain of 3.47 per cent, while FMCG was the major losers. Buying traction was witnessed in the metal and IT stocks as well. Oil & Gas index was also down 0.5 per cent.

In the previous session on Tuesday, the S&P BSE Sensex closed 31 points higher at 71,386, while the NSE Nifty50 settled at 21,545, up 32 points.

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

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 990.90 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude dipped 0.19 per cent to $77.44 a barrel.

Meanwhile, the rupee jumped 11 paise at 83.02 (provisional) against the US dollar on Wednesday, tracking a firm trend in equity markets and easing crude prices. A weak greenback overseas and expectations of favourable global and domestic macroeconomic data also boosted the domestic currency, forex traders said.

At the interbank foreign exchange market, the local unit opened at 83.13 and traded between the peak of 82.97 and the lowest level of 83.18 against the greenback during the session. It finally settled at 83.02 (provisional) against the dollar, registering a gain of 11 paise from its previous close. The domestic currency settled 1 paisa higher at 83.13 on Tuesday.