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MUMBAI: The sensex rebounded nearly 567 points and Nifty regained 23,150 level on Wednesday following value buying in IT and banking shares and firm global trends.
The ensex surged 567 points or 0.75% to close at 76,405, driven by gains in Infosys, TCS and HDFC Bank. During the day, the benchmark surged 624.77 points or 0.8% to hit an intraday high of 76,463.
The broader NSE Nifty climbed 131 points or 0.57% to settle at 23,155. In the intraday session, the Nifty rose 145 points or 0.63% to 23,170 on the NSE.
The key stock indices had slumped to seven-month lows on Tuesday due to foreign fund outflows and profit-taking by investors amid tariff war worries. The sensex tanked by 1,235 points and Nifty by 320 points.
“The benchmark indices rebounded amidst heightened volatility following better-than-expected results from a major private bank. The IT sector led gains, recovering from recent losses, while mid and small-cap stocks continued to underperform due to valuation concerns,” Vinod Nair of Geojit Financial Services said.
