Synopsis : Indian markets staged a strong intraday recovery, lifting benchmarks into positive territory led by a powerful surge in IT stocks.
While most indices traded firm, Groww shares faced sharp pressure, sinking 10% during the session.
Stock Market LIVE: Benchmarks Rebound Sharply — Full Article
Indian benchmark indices made an impressive comeback on Wednesday after a quiet and subdued opening. Buoyed by strong buying in heavyweight IT and auto stocks, the market reversed early losses and surged into the green during late morning trade.
The BSE Sensex soared 266+ points, touching an intraday high of 84,957, up 283 points or 0.33%. Meanwhile, the Nifty50 climbed to 25,972, advancing 62 points or 0.24%, reclaiming the 25,970 mark with renewed momentum.
The recovery was spearheaded by major index heavyweights including Infosys, HCL Tech, TCS, HUL, Tech Mahindra, M&M, Titan, Tata Steel, and Eternal, all of which contributed significantly to lifting market sentiment.
Broader Market Performance
The broader markets remained steady:
Nifty MidCap: +0.05%
Nifty SmallCap: +0.23%
These modest gains reflected stable investor interest beyond frontline stocks.
Sectoral Highlights
The sectoral performance clearly indicated the driving force behind today's rally:
Nifty IT: +2.4% (Top gainer)
Nifty Auto: +0.4%
However, not all sectors joined the recovery. The Nifty Realty index slipped 0.5%, emerging as the top laggard of the session, signalling mixed sentiment across pockets.
Groww Sinks 10%
Amid the broader recovery, Groww shares tumbled 10%, standing out as one of the sharpest decliners of the day. Market participants attributed the fall to profit booking and sentiment-driven selling pressure.
Disclaimer : This article is meant for informational purposes only and should not be considered financial or investment advice. Please consult a certified financial advisor before making investment decisions.
