Mumbai: Indian equity benchmarks Sensex and Nifty on Wednesday recovered from the massive losses logged in the previous session after investors lapped up metal and banking counters, tracking positive global sentiment.
Indian stocks showed some resilience while overcoming volatility as investors brushed aside deep concerns over the country’s economic health and instead looked to positive global factors for further cues. After swinging 367 points in a highly volatile session, the 30-share index ended 161.83 points, or 0.44 per cent, higher at 36,724.74. It hit an intra-day high of 36,776.31 and low of 36,409.54.
The broader Nifty — after opening on a flat note in the morning — traded in the range of 10,858.75 and 10,746.35 during the session. It finally ended the day with 46.75 points, or 0.43 per cent, gains at 10,844.65.
The Sensex rise was driven by metal, banking, telecom and IT stocks amid some positive news coming from Hong Kong. Meanwhile, the Indian rupee appreciated by 27 paise to close at 72.12 per US dollar on Wednesday. Global oil benchmark Brent crude rose 0.39 per cent to 58.48 per barrel (intra-day). (PTI)
