Sensex Soars 889 Points, Nifty Climbs 265 Points on Buying Spree
IT stocks, HDFC Bank and strong investor sentiment drive benchmark indices sharply higher.
Indian equity benchmarks rallied sharply on Wednesday, with the BSE Sensex surging 888.68 points to close at 77,654.60, while the NSE Nifty gained 264.85 points to settle at 24,250.20.
The rally was led by strong buying in information technology stocks, HDFC Bank and other blue-chip counters, supported by fresh foreign institutional investor (FII) inflows and improved investor sentiment. Shares of Infosys, Tata Consultancy Services, HCL Tech, Larsen & Toubro, Hindustan Unilever and Bharti Airtel were among the top gainers during the session.
Market sentiment was also aided by continued FII buying after overseas investors turned net buyers in the previous trading session. Investors largely shrugged off mixed global cues, with Asian markets ending on a mixed note and Brent crude oil remaining elevated.
The benchmark indices recovered strongly after ending the previous session marginally lower, reflecting renewed optimism in domestic equities despite global uncertainties. Analysts said sustained foreign fund inflows, resilience in heavyweight stocks and expectations of stable domestic economic growth supported the market's sharp rebound.
The broader market also witnessed positive momentum, with buying interest seen across several sectors, helping both benchmark indices end the day with robust gains.
