Sensex, Nifty rebound on buying in Infosys, HDFC Bank, firm global trends

Benchmark Sensex rebounded nearly 567 points and Nifty regained 23,150 level on Wednesday following gains in blue-chip stocks Infosys, HDFC Bank and Tata Consultancy Services, and firm global trends.

The 30-share BSE Sensex surged 566.63 points or 0.75 per cent to close at 76,404.99. During the day, the benchmark surged 624.77 points or 0.82 per cent to hit an intraday high of 76,463.13 on the BSE.

On similar lines, the broader NSE Nifty climbed 130.70 points or 0.57 per cent to settle at 23,155.35. In the intraday session, the Nifty rose 144.9 points or 0.63 per cent to 23,169.55 on the NSE.

Among Sensex shares, Infosys, Tata Consultancy Services, Tech Mahindra, Sun Pharmaceutical, Bajaj Finserv, HCL Technologies, Bajaj Finance, HDFC Bank, IndusInd Bank and Kotak Mahindra Bank were among the gainers.

Tata Motors, PowerGrid, Axis Bank, State Bank of India, NTPC, Tata Steel and Adani Ports were the major laggards.

"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, Head of Research, Geojit Financial Services said.

European markets were trading higher on Wednesday. In Asian markets, Tokyo and Seoul were settled on a positive note while Hong Kong and Shanghai closed in the negative territory. Wall Street had ended higher on Tuesday.

International oil benchmark Brent Crude was trading 0.49 per cent higher at USD 79.68 a barrel. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 5,920.28 crore on Tuesday.

The BSE Sensex plummeted 1,235.08 points to settle at 75,838.36 and the broader NSE Nifty plunged 320.10 points to close at 23,024.65 on Tuesday.