New Delhi, India (BBN)-The BSE benchmark Sensex rose over 400 points in the morning deals on Wednesday supported by gains in auto, banking, capital goods and healthcare stocks.
The 50-share Nifty jumped close to 8,250 levels led by gains in blue-chip counters such as ICICI Bank, State Bank of India, ONGC, Larsen & Toubro and Infosys, reports NDTV.
The Sensex bounced back on Wednesday after yesterday’s 630 point correction. Buying was visible mostly on account of short-covering and value buying at lower levels.
The foreign institutional investors (FIIs) sold shares worth Rs 1,329 crore.
Meanwhile, the sentiment on the Street improved after Government retained the previous UPA regime’s decision allowing foreign retailers to open multi-brand stores with 51 per cent ownership, in its consolidated FDI policy released on Tuesday, notwithstanding the political slugfest over the issue.
The latest edition of the annual FDI document also incorporates all policy changes effected over the past one year, including by the Modi government in sectors like defence, insurance and railways.
Meanwhile, buying was visible across the sectors. Auto, banking, oil & gas and FMCG stocks were among the top performers in trades so far.
From the Nifty-50 basket of stocks, 45 stocks were advancing while 5 were declining. Mahindra & Mahindra was the top Nifty gainer, the stock jumped 3.4 per cent to Rs 1,217 after the company said that it plans to launch facelift version of its sports utility vehicle, XUV 500.
Ambuja Cements, Asian Paints, Axis Bank, Bajaj Auto, Bank of Baroda, BHEL, Bharti Airtel, BPCL, Coal India and HDFC Bank were also trading higher by 1-2 per cent each.
Buying was visible in the broader markets as well. The BSE mid-cap index was up 1.5 per cent and the small-cap index advanced 1 per cent.
At 9:44 am, the Sensex was up 342 points at 27,219 and the Nifty was up 104 points at 8,230.
