Stock Market Updates: Benchmark equity indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead — the interim budget and the US Fed interest rate decision — to derive further cues from.
Recovering all the early lost ground, the 30-share BSE Sensex jumped 612.21 points or 0.86 per cent to settle at 71,752.11.
During the day, it zoomed 711.49 points or 1 per cent to 71,851.39.
The Nifty climbed 203.60 points or 0.95 per cent to 21,725.70.
Among the Sensex firms, Sun Pharma, Tata Motors, State Bank of India, Mahindra & Mahindra, Maruti, Bajaj Finserv, Power Grid and UltraTech Cement were the major gainers.
Larsen & Toubro declined over 4 per cent after its December quarter earnings. Titan also ended lower from the 30-share pack.
In Asian markets, Tokyo, Shanghai and Hong Kong ended lower while Seoul settled in the green.
European markets were trading on a mixed note. The US markets ended mostly down on Tuesday.
Global oil benchmark Brent crude declined 0.91 per cent to USD 82.12 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,970.52 crore on Tuesday, according to exchange data.
The BSE benchmark fell by 801.67 points or 1.11 per cent to settle at 71,139.90 on Tuesday.
The Nifty declined 215.50 points or 0.99 per cent to 21,522.10.
Wednesday Early Trends
Benchmark equity indices began the day on a bearish note on Wednesday tracking weak Asian markets and fresh foreign fund outflows, but later recovered all the lost ground to trade in the green on buying in Reliance Industries.
The 30-share BSE Sensex declined 243.07 points to 70,896.83 in early deals. The Nifty also slipped 73.25 points to 21,448.85.
However, later both the benchmark equity indices recovered the early lost ground and were trading in the green.
The Sensex quoted 146.33 points up at 71,286.23, and the Nifty traded higher by 58.25 points to 21,580.35.
(With PTI inputs)
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