The Sensex surged over 291 points at mid-session on the Bombay Stock Exchange on Wednesday on emergence of buying by funds amid brokers covering their short positions.
MUMBAI: The Sensex on Wednesday rebounded by 260 points on emergence of buying by funds in a roller-coaster ride caused by concerns of a mid-term poll following a political stalemate.
Swinging in a range of 14,281.48 and 13,870.70, the Bombay Stock Exchange (BSE) barometer settled at 14,248.66, a net rise of 259.55 points or 1.86 per cent over Tuesday's close of 13,989.11.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) also bounced by 78.25 points or 1.92 per cent to close at 4,153.15 from previous close of 4,074.90.
Analysts, however, visualised uncertain outlook for near future in the light of political standoff between the government and its Left allies on the Indo-US civil nuclear deal even as some stability was seen in global markets.
Domestic institutional investors (DIIs) were believed to have cornered a sizeable chunk of shares at the lower levels. Financial institutions and private mutual funds also made heavy sector-specific purchases, particularly shares in capital goods, metal and fast moving consumer goods (FMCG) sector, market players said.
Foreign institutional investors (FIIs) including hedge funds, however, remained net sellers.
As per provisional numbers, FIIs pulled out Rs 138 crore on August 21 while DIIs pumped in Rs 826.84 crore on the same day.
Meanwhile, the CPI(M) top brass began a two-day meeting amid signals that the government is in no mood to heed its ultimatum on the issue of nuclear deal.
BSE-Capital goods index shot up by 407.53 points or 3.40 per cent to 12,397.50.
The market breadth remained negative as 1,575 stocks ended with losses while 1,042 finished with gains.
The trading volume declined to Rs 4,404.14 crore from Rs 4,866.64 on Tuesday. RIL Topped the list of highest traded securities with a turnover of Rs 188.07 crore followed by SBI (Rs 150.75 crore), Zylog System (Rs 145.91 crore), GMR Infra (Rs 127.69 crore) and Orbit Co (Rs 101.37 crore).
The broad-based BSE-100 index recovered by 118.44 points to 7,297.83 from previous close of 7179.39.
The BSE-200 index and the Dollex-200 were quoted higher at 1,725.19 and 706.93 at close compared to last close of 1,699.07 and 696.22 respectively. The BSE-500 Index rose by 75.32 points to 5,532.32 from overnight close of 5,457.00 and the Dollex-30 ended up at 2,879.19 from 2,826.74.
RIL firmed up by 21.05 to 1768.40, ONGC by 19.15 to 808.75, BHEL by 76.55 to 1666.95, L&T by 75.25 to 2384.25, Tata Steel by 23.20 to 569.30, Hindalco by 2.75 to 139.00, ITC by 6.20 to 158.40, HUL by 2.80 to 196.20, Bharti Airtel by 33.55 to 847.65, Reliance Com by 11.60 to 495.40, ACC by 16.40 to 953.15, ACL by 3.75 to 130.50, Grasim by 3.30 to 272.95, Dr Reddy by 5.05 to 626.75, HDFC Bank by 15.40 to 1119.25, ICICI Bank by 16.45 to 846.75, Infosys Tech by 28.65 to 1769.65, TCS by 8.70 o 1024.45, Wipro by 6.75 to 453.55, M&M by 17.95 to 629.90, Ranbaxy by 2.50 to 354.40 and REL by 32.80 to 724.80.
However, Tata Motors declined by 15.35 to 618.95, Maruti by 1.25 to 766.70, SBI by 5.80 to 1457.95 and Cipla by 1.65 to 175.55.
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