Sensex jumps 1,022.50 pts

Mumbai: Snapping the three-day falling streak, benchmark Sensex rebounded by 1,022 points while Nifty reclaimed the 26,000 level on Wednesday on across-the-board buying aided by a rally in global peers amid growing hopes of a US Fed rate cut and fresh foreign fund inflows.

The 30-share BSE Sensex jumped 1,022.50 points or 1.21 per cent to settle at 85,609.51. During the day, it surged 1,057.18 points or 1.24 per cent to 85,644.19.

The 50-share NSE Nifty zoomed 320.50 points or 1.24 per cent to end at 26,205.30, just 10 points shy of its all time closing high. The broader index scaled record intra-day high of 26,277 on September 27, 2024.

In intra-day trade, Nifty rallied 330.35 points or 1.27 per cent to 26,215.15.

Increasing optimism surrounding a potential truce between Russia and Ukraine also bolstered the investor sentiment, experts said.

Among Sensex firms, Bajaj Finserv, Bajaj Finance, Tata Steel, Reliance Industries, Sun Pharma, Tata Motors Passenger Vehicles, Axis Bank and Infosys were among the major gainers.

Bharti Airtel and Asian Paints emerged as the laggards from the pack.

Market participation was broad-based, with metals, energy and IT leading the gains. Mid-cap and small-cap indices also advanced over 1 per cent.

FII bought equities worth Rs 785.32 crore on Tuesday, and DII also purchased stocks worth Rs 3,912.47 crore, according to exchange data.

The BSE midcap gauge jumped 1.32 per cent and smallcap index climbed 1.23 per cent.

Among sectoral indices, metal surged 2.08 per cent, oil & gas jumped 1.81 per cent, followed by energy (1.68 per cent), capital goods (1.65 per cent), services (1.63 per cent), power (1.59 per cent) and commodities (1.58 per cent).