IndusInd Bank surged 5 per cent to become the top Sensex gainers followed by Bajaj Auto and Mahindra & Mahindra. According to business website Money Control, US-based hedge fund Route One Investment Company is in talks to increase its stake in IndusInd Bank. Titan Company surged a little over 1 per cent after reporting June quarter of FY21. Titan’s jewellery revenue in May and June were at slightly below 20 per cent and around 70 per cent compared to the corresponding months last year.
On the results front, a total of 12 companies will report their March quarter earnings.
In volatile trading, markets on Tuesday ended strong for the fifth session as investors find hope for economic recovery amid the rising coronavirus cases.
Asian stocks
Stocks opened mixed in Asia in the early deals on Wednesday as investors remained jittery over the pandemic which impacted the buying as prices remain higher.
Japan's benchmark Nikkei 225 dropped 0.3 per cent in morning trading to 22,545.36. Australia's S&P/ASX 200 dipped 0.5 per cent to 5,982.10. South Korea's Kospi slipped 0.3 per cent to 2,157.70 Hong Kong's Hang Seng reversed early losses, gaining 0.3 per cent to 26,059.92, while the Shanghai Composite also bounced higher, adding 0.3 per cent to 3,355.53, according to business daily Mint.
Singapore's SGX Nifty was up 0.4 per cent, indicating a positive opening for Indian benchmark equity indices.
Global market
US stocks fell on Tuesday as market sentiment was dampened by a resurgence in coronavirus infections in the country.
The Dow Jones Industrial Average shed 396.85 points, or 1.51 per cent, to 25,890.18. The S&P 500 fell 34.40 points, or 1.08 per cent, to 3,145.32. The Nasdaq Composite Index was down 89.76 points, or 0.86 per cent, to 10,343.89, Xinhua reported.
Nine of the 11 primary S&P 500 sectors finished lower, with energy down 2.01 per cent, leading the laggards. Meanwhile, US-listed Chinese companies traded mostly lower, with six of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on a downbeat note.
Stocks closely tied to economic reopening, such as those of airlines and cruise lines, declined amid the soaring number of coronavirus cases in the country.
More than 2.96 million confirmed Covid-19 cases have been reported in the United States, with nearly 131,000 deaths, as of Tuesday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.
(With inputs from IANS)