Sustained foreign fund inflows helped retain the buying momentum, traders said.
The BSE Sensex jumped 185 points on Wednesday, tracking gains in Reliance Industries, M&M and Infosys amid a largely positive trend in global markets and sustained foreign fund inflows. After starting on a choppy note, the BSE benchmark ended 185.23 points or 0.48% higher at 39,086.03. The broader NSE Nifty climbed 64.75 points or 0.56% to close at 11,535. Mahindra and Mahindra (M&M) was the top gainer in the Sensex pack, rallying around 6%, followed by PowerGrid, Tata Steel, IndusInd Bank, Reliance Industries, HCL Tech, ONGC and Infosys. On the other hand, Bajaj Auto, Asian Paints, Sun Pharma, HDFC and Nestle India were among the laggards. According to traders, despite opening on a choppy note, domestic equities turned positive tracking firm cues from most global markets. Bourses in Tokyo and Seoul ended with gains, while Shanghai and Hong Kong settled in the red. Stock exchanges in Europe were trading on a positive note in early deals. Further, sustained foreign fund inflows helped retain the buying momentum, traders said. Foreign institutional investors bought equities worth a net ₹ 486.09 crore on Tuesday, exchange data showed. Meanwhile, global oil benchmark Brent crude was trading 0.04% higher at USD 45.60 per barrel. In the forex market, the rupee depreciated 16 paise to end at 73.03 against the US dollar.
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