Sensex jumps 612 points; Nifty ends above 16,950


Equity benchmark Sensex surged 612 points on Wednesday, tracking gains in index majors Reliance Industries, ICICI Bank and L&T amid a positive trend in global markets.

The 30-share index jumped 611.55 points or 1.09% to end at 56,930.56. Similarly, the NSE Nifty advanced 184.60 points or 1.10% to 16,955.45.

Bajaj Finance was the top gainer in the Sensex pack, rising around 3%, followed by Bharti Airtel, Sun Pharma, Reliance Industries and SBI.

On the other hand, Wipro, ITC and Nestle India were the laggards.

“Domestic market is gaining ground amid a positive rebound in the global market. The rebound was broad-based while mid and small caps outperformed as the bargain opportunity led investors to accumulate the beaten-down stocks,” said Vinod Nair, Head of Research at Geojit Financial Services.

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with gains, while Shanghai closed in the red.

Stock exchanges in Europe were also trading on a positive note in mid-session deals.

Meanwhile, the international oil benchmark Brent crude rose 0.38% to $74.24 per barrel.

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