Mumbai: Benchmark indices Sensex and Nifty bounced back sharply on Wednesday, driven by a rally in IT and financial shares and sustained buying by domestic institutional investors amid growing hopes for an India-US trade deal.
The 30-share BSE Sensex jumped 513.45 points, or 0.61 per cent, to settle at 85,186.47. During the day, the benchmark surged 563.75 points, or 0.66 per cent, to 85,236.77.
The 50-share NSE Nifty climbed 142.60 points, or 0.55 per cent, to close near the day’s high at 26,052.65. The index hit a high of 26,074.65 in the day trade.
From the Sensex pack, HCL Tech, Infosys, Tata Consultancy Services, Hindustan Unilever, Sun Pharma and Titan were among the biggest gainers.
In contrast, Tata Motors Passenger Vehicles, Maruti, Adani Ports and Bajaj Finance were among the laggards.
Meanwhile, Commerce and Industry Minister Piyush Goyal on Tuesday said “you will hear good news” on the proposed trade pact between India and the US once the deal is fair, equitable and balanced.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Hong Kong’s Hang Seng index settled lower. In contrast, Shanghai’s SSE Composite index ended in the green.
Markets in Europe were trading mostly lower in mid-session deals.