Bourses rebound on buying in banking & auto stocks, Sensex jumps over 526 points

Benchmark Sensex climbed 526 points while Nifty closed above the 22,100 level on Wednesday following buying in banking, auto and oil shares after positive macro data.

The 30-share BSE Sensex climbed 526.01 points or 0.73 per cent to settle at 72,996.31 with 18 of its stocks advancing and 12 closing lower. During the day, it jumped 668.43 points or 0.92 per cent to 73,138.73.

The broader Nifty of NSE rebounded by 118.95 points or 0.54 per cent to close at 22,123.65. As many as 22 Nifty shares gained while 27 declined and one closed unchanged.

Auto, banking and energy shares supported the recovery while FMCG and IT shares declined due to profit taking.

Among Sensex shares, Reliance Industries rose the most by 3.6 per cent, adding more than 312 points to the upside. Maruti, Bajaj Finance, Titan, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Mahindra & Mahindra and Larsen & Toubro were among the major gainers.

Wipro, HCL Technologies, Nestle, Tata Consultancy Services and Tata Motors were among the laggards.

In the broader market, the BSE smallcap gauge climbed 0.70 per cent and midcap index went up by 0.01 per cent.

Among the indices, services jumped 1.01 per cent, capital goods climbed 1 per cent, consumer durables (0.98 per cent), industrials (0.97 per cent) and realty (0.93 per cent). Commodities, IT, utilities, metal and teck were the laggards.

FIIs turned net buyers on Tuesday, as they bought equities worth Rs 10.13 crore, according to exchange data.