Indian shares witnessed sharp rebound on Wednesday tracking gains across other global indices. The Sensex rose 258 points to settle at 31,646.46 while the Nifty50 index closed 88 points higher at 9,884.40 after gaining over 100 points to 9,909.45 during intraday trade. Gains in the market were led by energy and banking stocks with their respective indices gaining 1.91 per cent and 0.74 per cent respectively. Sentiment was supported by a recovery in broader Asia as concerns stemming from North Korea’s firing of a missile over Japan receded.
Among Nifty stocks, Indian Oil was the top gainer in Nifty, up 4.22 per cent followed by Hindalco, Bosch, Bharat Petroleum Corporation and Vedanta, which rose between 2-4 per cent. Reliance Industries, Ultratech Cement, Ambuja Cements, HDFC and Yes Bank were the other major gainers in the index.
Meanwhile, midcap and smallcap shares outperformed the benchmark indices today with the BSE Midcap and BSE Smallcap indices gaining 1.49 per cent and 1.33 per cent respectively.
IT stocks were the only sectoral loser in markets today with Nifty IT, NSE’ sub-index for IT stocks falling 0.12 per cent. Tech Mahindra was the top loser in Nifty, down 1.39 per cent followed by M&M, Cipla, Bank of Baroda, HCL Tech and NTPC, which fell between 0.25 per cent to 1.4 per cent today.