Benchmark indices Sensex and Nifty staged a broad-based rebound, ending the session higher as buying gained pace throughout. The 30-share BSE Sensex closed 1,533.72 points or 2.11 per cent higher at 74,315.61. During the day, the benchmark hit a high of 74,330.29 and a low of 72,896.38, gyrating 1,433.91 points. Similarly, the 50-share NSE Nifty gained 374.65 points or 1.66 per cent to close at 22,997.35. However, the broader market ended the session in the red. The BSE MidCap Select Index fell 71.36 points, or 0.40 per cent, while the BSE SmallCap Select Index fell 137.03 points, or 1.52 per cent.
Among sectoral indices, Nifty IT was the biggest gainer, up 1.82 per cent, followed by Nifty Auto, up 1.67 per cent. Meanwhile, Nifty FMCG fell 1.06 per cent.
“Markets witnessed a sharp rebound, supported by a resurgence in IT stocks following strong Q2 earnings from leading IT companies. Gains in banking and automobile stocks, along with a decline in global crude oil prices, also boosted sentiment in the oil and gas sector. The rupee’s continued recovery against the US dollar, aided by RBI measures, further lent support to domestic equities, even as other Asian markets plunged 1–8 per cent amid a sell-off in AI-linked stocks,” said Ankur Punj, Managing Director, Equirus Wealth.
Rupee continues upward trajectory
Meanwhile, the Indian rupee extended its winning streak to a fifth straight session, supported by easing crude oil prices, unwinding dollar long positions, and strong domestic risk appetite.
