Markets bounce back after 8 days of fall; end nearly 1% higher

Stock market benchmarks ended nearly 1 per cent higher on Wednesday, halting their eight days of decline, amid gains in Asian and European equity exchanges.

The BSE Sensex advanced 448.96 points or 0.76 per cent to settle at 59,411.08 after a positive beginning. During the day, it jumped 513.33 points or 0.87 per cent to 59,475.45.

The NSE Nifty climbed 146.95 points or 0.85 per cent to end at 17,450.90.

In the past eight days, the BSE benchmark had tumbled 2,357.39 points or 3.84 per cent, and the Nifty declined 731.9 points or 4.22 per cent.

From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers.

Power Grid and HDFC Bank were the laggards from the pack.