Sensex, Nifty rebound over 1% as financials, FMCG shares gain

Benchmark stock indices Sensex and Nifty jumped over 1 per cent on Wednesday amid foreign funds turning net buyers of domestic equities after a long gap and positive opening in European stock markets.

The 30-share BSE benchmark index climbed 616.62 points or 1.16 per cent to settle at 53,750.97. During the day, it rallied 684.96 points or 1.28 per cent to 53,819.31.

The NSE Nifty advanced 178.95 points or 1.13 per cent to 15,989.80.

Among Sensex scrips, Bajaj Finserv, Bajaj Finance, Hindustan Unilever, Asian Paints, Titan, Maruti Suzuki India, Kotak Mahindra Bank and Nestle were the major gainers.

Power Grid, NTPC, Reliance Industries, Larsen & Toubro and Tata Steel were the laggards.

The BSE barometer had declined 100.42 points or 0.19 per cent to settle at 53,134.35 on Tuesday. The Nifty dipped 24.50 points or 0.15 per cent to 15,810.85.

“According to preliminary data made public on the NSE, FIIs became net purchasers on July 5 for the first time since May 30, purchasing shares worth ₹1,295.84 crore,” Mohit Nigam, Head – PMS at Hem Securities, said.

Elsewhere in Asia, markets in Tokyo, Shanghai, Hong Kong and Seoul ended lower on Wednesday.

European markets were trading higher in mid-session deals.

The US markets ended mostly higher on Tuesday.

Meanwhile, international oil benchmark Brent crude jumped 2.43 per cent to USD 105.3 per barrel.