29 April,2026 02:57 PM IST | Mumbai | mid-day online correspondent
Representational image. File pic
Equity benchmark indices Sensex and Nifty rebounded in early trade on Wednesday, helped by buying in blue-chip stocks and a rally in Asian markets.
Moreover, the domestic institutional investors also offered support, helping cushion the downside moves, analysts said.
Also, the 30-share BSE Sensex climbed 358.92 points to 77,245.83 in opening trade. The 50-share NSE Nifty went up by 101.2 points to 24,096.90. From the 30 Sensex firms, Maruti, ITC, Tech Mahindra, Infosys, Mahindra & Mahindra and Reliance Industries were among the biggest gainers. Whereas Tata Steel, Asian Paints, ICICI Bank and Axis Bank were among the laggards.
In Asian markets, South Korea's benchmark KOSPI, Shanghai's SSE Composite index and Hong Kong's Hang Seng index traded higher. Brent crude, the global oil benchmark, traded 0.21 per cent lower at USD 111 a barrel. On the contrary, when the Indian market surged marginally, the US markets ended lower on Tuesday.
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.
Indian benchmark indices closed down by around 0.5 per cent on the Nifty monthly expiry session on Tuesday, primarily weighed down by weakness in the rupee, rising crude oil prices, and selling pressure in banking stocks. The decline followed the RBI's confirmation of its expected credit loss framework and final asset classification norms, which raised concerns regarding higher provisioning requirements. At the close, the Sensex declined by 416.72 points (0.54 per cent) to settle at 76,886.91, while the Nifty fell by 97 points (0.40 per cent) to close at 23,995.70.
On the sectoral front, significant weakness was observed in Nifty PSU Banks and Private Banks, along with pressure in Nifty Auto and Nifty IT. On the other hand, pockets of strength were seen in Nifty Oil and Gas, Nifty Metal, and the chemical space. The broader markets, however, displayed relative resilience with a positive bias. The Nifty Midcap index gained 0.28 per cent, and the Small Cap index advanced by 0.42 per cent, supported by stock-specific buying interest.
Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, told PTI, "On the flows front, foreign institutional investors remain net sellers amid global risk aversion, while domestic institutional investors continue to offer some support, helping to cushion downside moves."
(With inputs from PTI)
