Mumbai: After Tuesday’s sharp fall, investors finally got some relief on Wednesday. The Indian stock market staged a smart recovery and both benchmark indices closed firmly in the green.
Sensex Jumps 426 Points: Banking, Auto and Energy Stocks Lead the Charge
The BSE Sensex jumped 426 points to settle at 84,818 while the NSE Nifty gained nearly 140 points to end the day at 25,898. Out of 30 Sensex stocks, 21 closed higher and 39 of the 50 Nifty constituents finished in positive territory. Heavyweight buying was seen in banking, energy and automobile shares. Big names like HDFC Bank, ICICI Bank, Reliance Industries, Tata Motors and NTPC were among the top performers that pushed the indices higher.
Yesterday’s Pain, Today’s Gain
Just a day earlier, on December 10, the market had witnessed a painful session. The Sensex had dropped 275 points to close at 84,391 and the Nifty shed 82 points to end at 25,758. Weak global cues and continued selling by foreign institutional investors had created pressure. However, buyers returned with confidence on Wednesday morning and the indices stayed in the green throughout the session.
Global Markets Show Mixed Trend
Asian markets closed mostly lower today:
- Japan’s Nikkei fell 0.90% to 50,148
- South Korea’s Kospi slipped 0.59% to 4,110
- Hong Kong’s Hang Seng ended marginally lower by 0.04% at 25,530
- China’s Shanghai Composite dropped 0.70% to 3,873
In contrast, US markets had closed strongly the previous night. The Dow Jones rose 1.05% to 48,057, while Nasdaq gained 0.33% and the S&P 500 advanced 0.67%. These positive cues from Wall Street gave Indian markets an encouraging start.
What Lies Ahead?
Market experts believe momentum in banking and energy sectors could continue in the near term, but investors will closely watch global developments and FII flows in the coming sessions.
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