New Delhi, 01 July (H.S.): India's domestic equity markets rebounded strongly on Wednesday after declining for two consecutive sessions, with benchmark indices ending firmly higher. Robust buying in automobile and fast-moving consumer goods (FMCG) stocks, coupled with positive cues from other Asian markets, lifted investor sentiment throughout the trading session.

The market opened with modest gains, but buying momentum strengthened soon after the opening bell. By around noon, the BSE Sensex had climbed more than 630 points, while the NSE Nifty had advanced over 180 points. Profit-booking during the final hour trimmed part of the gains, but both benchmark indices still closed significantly higher. At the close, the Sensex rose 0.58 percent and the Nifty gained 0.59 percent.

FMCG, automobile and banking stocks witnessed strong buying throughout the session. Realty, consumer durables, oil and gas, and public sector enterprise indices also ended in positive territory.

Information technology stocks, however, remained under heavy selling pressure for a second consecutive session. As a result, the Nifty IT Index declined 2.01 percent, while the BSE Tech Index fell 1.03 percent.

The capital goods, healthcare and metal indices also ended lower. In the broader market, buying interest remained positive, with the Nifty Midcap Index rising 0.34 percent and the Nifty Smallcap Index gaining 0.36 percent.

The market rally added more than Rs 2.02 trillion to investors' wealth. The combined market capitalisation of companies listed on the BSE increased to a provisional Rs 476.23 trillion at the close of trade, up from Rs 474.21 trillion in the previous session, resulting in an increase of about Rs 2.02 trillion in investor wealth.

A total of 3,001 stocks were actively traded on the National Stock Exchange (NSE) during the session. Of these, 1,647 advanced while 1,354 declined. On the BSE Sensex, 22 of the 30 constituent stocks ended higher, while eight closed lower. On the Nifty 50, 33 stocks advanced and 17 declined.

The BSE Sensex opened 66.54 points higher at 76,545.21. Strong buying after the opening pushed the index to an intraday high of 77,110.08, up 631.41 points, around midday. Profit-booking in the final hour erased part of the gains, and the index settled 443.97 points, or 0.58 percent, higher at 76,922.64 after retreating 187.44 points from its day's peak.

Similarly, the NSE Nifty opened 31.90 points higher at 23,897.65. Sustained buying drove the benchmark to an intraday high of 24,049.90, a gain of 184.15 points. Late-session selling linked to intraday settlement dragged the index 44.05 points below its day's high, before it closed 140.10 points, or 0.59 percent, higher at 24,005.85.

Among the blue-chip gainers, Eternal surged 5.71 percent, followed by Adani Enterprises, up 3.54 percent, Nestle India, which gained 3.46 percent, Asian Paints, up 3.06 percent, and Hindustan Unilever, which advanced 3.01 percent.

On the losing side, HCL Technologies fell 3.51 percent, Tech Mahindra declined 3.03 percent, Tata Consultancy Services (TCS) dropped 2.41 percent, Hindalco Industries lost 1.77 percent, and Tata Steel slipped 1.54 percent.

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Hindusthan Samachar / Jun Sarkar