Sensex Rebounds 161 Points, IT Stocks and HDFC Bank Lift Nifty Above 22,750
· Free Press Journal
Mumbai: Indian stock markets recovered from early losses on October 14, with buying in IT stocks and HDFC Bank pushing the Sensex and Nifty higher after Tuesday’s rebound.
The BSE Sensex initially fell 32.96 points to 73,000.82. Nifty slipped to 22,688.75 before the direction reversed.
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Later in the session, Sensex traded at 73,195.26, up 161.48 points. Nifty advanced 36 points to 22,757.95, indicating that both benchmarks had recovered their early losses.
These figures represent intraday trading levels, with the final closing performance still to be determined.
Sensex Soars 1,109 Points, IT Rally Powers Nifty Above 22,700Technology Shares Lead Buying
Tata Consultancy Services, HCLTech, Infosys and Tech Mahindra were among the major Sensex gainers. Their advances helped sustain buying interest in the technology sector.
HDFC Bank and Kotak Mahindra Bank provided additional support. UltraTech Cement and Maruti also featured among the leading advancing shares.
However, several heavyweight stocks moved lower. Sun Pharma, Bajaj Finance, Bajaj Finserv, Larsen & Toubro, Power Grid and Eternal were among the prominent laggards.
The mixed stock performance showed that buying remained concentrated in selected companies rather than spreading uniformly across the benchmark constituents.
Oil Prices and FII Outflows in Focus
Brent crude rose 0.62 per cent to $106.4 a barrel, leaving energy prices elevated as domestic markets attempted to build on their recovery.
Foreign institutional investors sold Indian equities worth ₹1,305.13 crore on Tuesday, according to exchange data. The outflows continued despite the previous session’s substantial benchmark gains.
Sensex Rebounds To 72,594, HCLTech Jumps Nearly 5% As IT Stocks Lead GainsAsian Markets Offer Support
South Korea’s Kospi, Japan’s benchmark index, Shanghai’s SSE Composite and Hong Kong’s Hang Seng traded higher. Wall Street had ended lower on Tuesday.
India’s latest recovery followed a strong previous session. Sensex jumped 1,109.10 points, or 1.54 per cent, to close at 73,033.78, its best daily performance in four months.
Nifty rose 358.60 points, or 1.60 per cent, to 22,721.95, registering its strongest single-day rebound in more than two months. Wednesday’s gains carried both indices above those closing levels.