Stock Market Updates: On Wednesday, a total of 25 stocks of the 30-share benchmark settled in green, while 43 constituents of the NSE Nifty witnessed gains.
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Stock Market Updates: Benchmark equity indices declined in early trade on Thursday dragged by IT stocks and continuous foreign fund outflows.
The 30-share BSE Sensex declined 227.72 points to 70,832.59. The Nifty dipped 55.7 points to 21,398.25.
Among the Sensex firms, Tech Mahindra fell nearly 4 per cent after the company on Wednesday reported a 60 per cent decline in net profit to Rs 510.4 crore in the December quarter.
HCL Technologies, Infosys, Wipro, Axis Bank, Tata Consultancy Services, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank were among the other major laggards.
IndusInd Bank, NTPC, Hindustan Unilever, and the State Bank of India were among the gainers.
In Asian markets, Shanghai and Hong Kong were quoting in the positive territory while Seoul and Tokyo traded lower.
The US markets ended on a mixed note on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,934.93 crore on Wednesday, according to exchange data.
Global oil benchmark Brent crude climbed 0.36 per cent to USD 80.33 a barrel.
Sensex Reclaimed 71,000 Mark On Wednesday
Equity benchmark indices Sensex and Nifty rebounded sharply by 1 per cent on Wednesday after sliding for the past two sessions, propelled by bargain hunting in metal, commodity and telecom stocks.
Trading through a patchy track in the opening session, the 30-share BSE Sensex gradually gained ground and jumped 689.76 points, or 0.98 per cent, to settle at 71,060.31.
The benchmark moved between an intra-day high of 71,149.61 and a low of 70,001.60.
The broader NSE Nifty also closed 215.15 points or 1.01 per cent higher at 21,453.95.
Among the Sensex firms, major winners included Tata Steel, rising 3.77 per cent, followed by HCL Tech, which gained 3.62 per cent.
IndusInd Bank and PowerGrid closed with a gain of 3.60 and 3.34 per cent, respectively. Other gainers were Tech Mahindra, Hindustan Unilever, Bajaj Finserve and Bharti Airtel, among others.
On the other hand, ICICI Bank, Axis Bank, Asian Paints, Bajaj Finance and TCS were the only laggards, sliding up to 2.94 per cent.
A total of 25 stocks of the 30-share benchmark settled in green, while 43 constituents of the NSE Nifty witnessed gains.
The BSE Midcap rose 1.71 per cent to settle at 37,884.28, while the smallcap index rose 1.72 per cent to 44,124.36.
Among sectoral indices, telecommunications and metal rose by 3.57 per cent and 3.21 per cent, respectively. While commodities rose 2.06 per cent, oil & gas went up 2.17 per cent and energy increased by 1.95 per cent.
The banking sector index was the only laggard, falling marginally by 0.18 per cent.
Elsewhere in Asia, Japan’s Nikkei 225 lost 0.80 per cent, and Hong Kong’s Hang Seng gained sharply by 3.56 per cent. China’s Shanghai Composite also ended 1.80 per cent higher.
European markets were higher on Wednesday, with Germany’s DAX and CAC 40 of France gaining 1.00 per cent and 0.58 per cent. London’s FTSE 100 rose 0.29 per cent.
In the US markets, the Dow closed 0.25 per cent lower on Tuesday, while the S&P 500 settled 0.29 per cent higher and tech-heavy Nasdaq closed the session 0.43 per cent higher.
Meanwhile, Brent crude futures, the global oil benchmark, were trading higher by 0.58 per cent to USD 80.01 per barrel on Wednesday.
On Tuesday, Sensex fell 1,053.10 points or 1.47 per cent to settle at 70,370.55. Nifty also declined 330.15 points or 1.53 per cent to close at 21,241.65.
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Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 3,115.39 crore, according to exchange data.
In the past four trading days alone, FPIs have sold shares worth over Rs 27,000 crore after pumping huge money that had also pushed the market indices to record highs.
