Sensex and Nifty staged a smart recovery on Wednesday after bears mauled bulls on Dalal Street in the previous session. The rally came after PM Modi-led NDA looked set to form the government for the third consecutive time. Sensex rose 1613 points to 73,692 and Nifty gained 513 points to 22,398. Market cap of BSE-listed firms climbed to Rs 403.12 lakh crore.
HUL, Asian Paints, Nestle India, Kotak Bank and ITC led the gains on Sensex, rising up to 7.53%. L&T and PowerGrid were the only Sensex losers falling up to 1.38%.
Investor wealth surged by Rs 7.61 lakh crore to Rs 403.03 lakh crore compared with a valuation of Rs 395.42 lakh crore recorded in the previous session.
Auto, consumer durables and IT stocks were the top sectoral gainers with their indices rising 1685.4 points, 1402 points, and 800 points, respectively on BSE.
On the other hand, capital goods stocks were top losers with their BSE index falling 270 points to 51,975. Market breadth was positive with 2103 stocks rising against 1515 stocks falling on BSE. 135 shares were unchanged.
BSE midcap index gained 1116.76 pts to 41,904, signaling bullishness in the broader market. On the BSE, small cap stocks index fell 594 pts to 44,363 level.
Foreign institutional investors sold Rs 12,436 crore worth of equities on a net basis on Tuesday, while domestic investors offloaded Rs 3318.98 crore of shares, as per provisional NSE data.
Previous session
Sensex plunged 4,389 pts to 72,079 and Nifty ended 1379 pts lower at 21,884 on Tuesday. Investor wealth plunged by Rs 31.09 lakh crore to Rs 394.83 lakh crore in the current session against Rs 425.92 lakh crore in the previous session.