Sensex snaps losses, rises 141 points

After three days of a losing streak, markets heaved a sigh of relief on Wednesday. Both the benchmark indices rebounded and closed positive for the fourth time in this month.

The 30-share Sensex surged 141.27 points, or 0.42%, to close at 33844.86. Nifty rose 37.05 points, or 0.36%, to hit 10397.45.  But the broader market continued to underperform. The mid-cap stocks fell by 0.05% and the small-cap by 0.17%.

IT was the best performing sector rising 2.20%. PSU bank index also recovered and rose 1.09%.

TCS, ITC, ONGC, SBI and Infosys were the main contributors to Sensex surge, gaining as much as 3.33%. Sun Pharma was the biggest loser as it plunged 6.19% on Wednesday.

Meanwhile, FPIs sold shares worth Rs 1,214.18 crore while the DIIs purchased shares of Rs 1375.48 crore on Wednesday. The February F&O segment will be expiring today.