Benchmark Sensex rebounded by almost 261 points to close at 35,547.33 on Wednesday, breaking its two-day falling streak as investors accumulated recently beaten down metal, banking and realty counters.
Oil-to-telecom conglomerate Reliance Industries topped the gainers list in the Sensex pack, spurting 2.44% to end at a record high of ₹1,019.95.
Overseas, Asian and European stocks too bounced back, reversing some of their recent losses following escalating trade tensions between the US and China.
Brokers said investor sentiment got a boost after the Reserve Bank yesterday announced purchase of government securities of up to ₹10,000 crore on June 21 to help in liquidity management.
The 30-share Sensex stayed in the green throughout and hit the day’s high of 35,571.37 on a flurry of buying. It finally ended at 35,547.33, up 260.59 points, or 0.74%.
The gauge had lost 335.40 points in the previous two sessions, tracking a sell-off across global markets after the US and China reignited their trade dispute.
The broader NSE Nifty climbed 61.60 points, or 0.58%, to close at 10,772.05. Intra-day, it shuttled between 10,781.80 and 10,724.05.
Domestic institutional investors (DIIs) bought shares worth a net ₹653.68 crore while foreign portfolio investors (FPIs) sold equities to the tune of ₹1,324.92 crore on Tuesday, as per provisional data.
