Mumbai, Apr 29 (PTI) Equity benchmark indices Sensex and Nifty rebounded nearly 1 per cent on Wednesday, supported by bargain hunting in FMCG, auto and telecom stocks amid earnings optimism and a rally in Asian markets.
Signs of potential de-escalation in geopolitical tensions also helped equity markets, traders said.
In a volatile session, the 30-share BSE Sensex jumped 609.45 points, or 0.79 per cent, to settle at 77,496.36. During the day, it surged 1,095.6 points, or 1.42 per cent, to 77,982.51.
The 50-share NSE Nifty climbed 181.95 points or 0.76 per cent to end at 24,177.65.
From the Sensex firms, ITC, Tech Mahindra, Maruti, Reliance Industries, Bharti Airtel and Mahindra & Mahindra were among the biggest gainers.
In contrast, InterGlobe Aviation, NTPC, Bajaj Finserv and ICICI Bank were among the laggards.
Maruti climbed 2.82 per cent after the country’s largest carmaker reported a record annual consolidated net profit of Rs 14,679.5 crore in FY26, a year-on-year growth of 1.24 per cent, riding on its best-ever annual sales of over 24.22 lakh units, propelled by GST rate reduction.
In Asian markets, South Korea’s benchmark Kospi, Shanghai’s SSE Composite and Hong Kong’s Hang Seng ended higher. Equity markets in Japan were closed due to a holiday.
“The core driver of today’s strength remained earnings. Strong results from key companies reinforced confidence in underlying domestic demand and balance sheet resilience. This fundamental support, combined with easing geopolitical concerns, helped markets shift focus away from macro stress toward corporate performance,” Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
Hopes of potential de-escalation in geopolitical tensions helped stabilise crude oil expectations, which is critical for India’s macro outlook, he said.
European markets were trading lower. US markets ended lower on Tuesday.
Brent crude, the global oil benchmark, jumped 2.85 per cent to USD 114.4 per barrel.
“Despite weak global cues, elevated crude prices, and a depreciating INR, India’s equity markets rebounded from recent lows as investors used the correction to add exposure, supported by better-than-expected earnings despite geopolitical uncertainty.
“Gains were led by FMCG, auto, and realty stocks on strong results and positive commentary, while financials lagged due to regulatory tightening and provisioning concerns,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,103.74 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,712.01 crore, according to exchange data.
On Tuesday, the Sensex declined 416.72 points, or 0.54 per cent, to settle at 76,886.91. The Nifty dropped 97 points, or 0.40 per cent, to end at 23,995.70.
