New Delhi, 24 June (H.S.): Indian equity markets ended sharply higher on Wednesday, with benchmark indices posting strong gains and investors adding nearly Rs 1.87 lakh crore to their wealth. Positive global sentiment and broad-based buying across key sectors helped the market recover strongly from intraday lows.

Market participants drew encouragement from developments in the United States, where a proposal passed by the Senate was seen as making it more difficult for President Donald Trump to initiate fresh military action against Iran. The development boosted investor confidence across several Asian markets, with the positive momentum extending to Indian equities.

The benchmark BSE Sensex climbed 790.54 points, or 1.04 percent, to close at 76,991.22. During the session, the index rebounded more than 1,068 points from its intraday low. The NSE Nifty also registered a strong recovery, ending 197.55 points, or 0.83 percent, higher at 24,021.65 after gaining more than 300 points from its lowest level of the day.

Buying interest remained strong throughout the session in oil and gas, information technology, and private banking stocks. Healthcare, consumer durables, FMCG, and technology indices also ended in positive territory. On the other hand, capital goods, automobile, public sector enterprise, and metal stocks faced selling pressure.

The broader market also witnessed positive sentiment. The Nifty Midcap Index closed 0.10 percent higher, while the Nifty Smallcap Index advanced 0.39 percent.

The rally significantly boosted investors' wealth. The total market capitalisation of companies listed on the BSE rose to Rs 476.46 lakh crore on a provisional basis, compared with Rs 474.59 lakh crore in the previous trading session. As a result, investors gained approximately Rs 1.87 lakh crore during the day.

Trading activity remained robust across both exchanges. On the BSE, 4,430 stocks were actively traded, of which 2,215 advanced, 2,034 declined, and 181 remained unchanged. On the NSE, 3,005 stocks witnessed trading activity, with 1,542 closing higher and 1,463 ending lower.

Among the 30 Sensex constituents, 23 stocks closed in the green while seven ended in negative territory. In the Nifty 50 index, 29 stocks advanced and 21 declined.

The Sensex opened marginally higher at 76,229.76 but soon slipped to an intraday low of 76,121.59 amid early selling pressure. However, sustained buying throughout the day helped the index recover sharply. It touched an intraday high of 77,190.37 before settling at 76,991.22 after some profit-booking in the final hour of trade.

Similarly, the Nifty opened lower at 23,795.80 and slipped to 23,789.25 shortly after the opening bell. Aggressive buying thereafter lifted the index to an intraday high of 24,090.05. Late-session selling trimmed some gains, but the index still closed firmly higher at 24,021.65.

Among the major gainers, InterGlobe Aviation rose 4.95 percent, followed by Adani Enterprises at 3.60 percent, Trent Limited at 3.31 percent, Tech Mahindra at 3.25 percent, and Bajaj Finance at 2.97 percent.

Among the top losers, Bajaj Auto declined 2.74 percent, followed by NTPC Limited at 2.07 percent, ONGC at 1.78 percent, Tata Steel at 1.76 percent, and Bharat Electronics Limited at 1.54 percent.

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Hindusthan Samachar / Jun Sarkar