mumbai: Stock markets rebounded on Wednesday with benchmark Sensex closing higher by 304 points on buying in metal, auto and pharma shares as steady US inflation data propelled a sharp rally in global markets.
The 30-share BSE Sensex climbed 304.32 points or 0.38 per cent to settle at 80,539.91. During the day, it jumped 448.15 points or 0.55 per cent to 80,683.74. The 50-share NSE Nifty edged up by 131.95 points or 0.54 per cent to 24,619.35.
Among Sensex firms, Bharat Electronics, Eternal, Mahindra & Mahindra, Kotak Mahindra Bank, Tata Motors and Power Grid were the gainers.
However, Adani Ports, ITC, UltraTech Cement and Titan were among the laggards.
Retail inflation slowed to an 8-year low of 1.55 per cent in July, falling below the Reserve Bank’s comfort zone for the first time since January 2019, helped by subdued prices of food items, according to government data released on Tuesday.
The BSE smallcap gauge climbed 0.58 per cent and midcap index went up by 0.56 per cent. Among BSE sectoral indices, healthcare jumped 1.76 per cent, metal (1.22 per cent), auto (1.18 per cent), consumer discretionary (0.96 per cent), industrials (0.70 per cent) and financial services (0.45 per cent). Oil & Gas and FMCG were the laggards.
Shares of Apollo Hospitals Enterprise Ltd spurted by nearly 8 per cent, emerging as lead gainer among Nifty50 shares after the healthcare services provider reported a 42 per cent jump in profit after tax to Rs 433 crore in the June quarter.