New Delhi, 15 July (H.S.): The domestic equity market rebounded on Wednesday after a one-day decline, ending the session firmly in positive territory. Trading began on a strong note, with benchmark indices maintaining gains through most of the first half despite minor fluctuations. However, intense selling pressure around 1 p.m. briefly pushed both the Sensex and the Nifty into negative territory before renewed buying helped the indices recover and close in the green. At the close, the BSE Sensex gained 0.17 per cent, while the NSE Nifty advanced 0.11 per cent. The market rally added approximately Rs 3.37 lakh crore to investors' wealth.

The BSE Sensex opened 137.82 points higher at 77,192.76. Shortly after the opening bell, sustained buying accelerated the index's upward momentum, taking it to an intraday high of 77,646.27, up 591.33 points. The benchmark then traded near its day's high with minor fluctuations for most of the morning session.

Just before 1 p.m., sharp selling pressure emerged, causing the Sensex to plunge 663.45 points from its intraday peak to a low of 76,982.82, down 72.12 points from the previous close. Buyers soon returned, helping the index regain positive territory. By the end of the session, the Sensex had recovered 202.61 points from the day's low and settled at 77,185.43, up 130.49 points.

Similarly, the NSE Nifty opened 33.80 points higher at 24,085.85. Strong buying across sectors soon lifted the index to an intraday high of 24,220.35, a gain of 168.30 points. The benchmark traded within a narrow range during the first half and continued to do so for nearly an hour into the second session before heavy selling around 1 p.m. dragged it sharply lower.

The selling pressure pulled the Nifty down by 209.80 points from its intraday high to 24,010.55, representing a decline of 41.50 points from the previous close. Fresh buying quickly reversed the losses, allowing the index to return to positive territory. After witnessing buying and selling throughout the day, the Nifty closed at 24,078.50, up 26.45 points, having recovered 67.95 points from its intraday low.

Banking, pharmaceutical and capital goods stocks witnessed sustained buying throughout the trading session. Consumer durables, oil and gas, and automobile stocks also ended the day in positive territory. On the other hand, public sector enterprises, metal, FMCG and information technology stocks remained under selling pressure.

The broader market also maintained a positive trend, with the Nifty Midcap Index closing 0.28 per cent higher and the Nifty Smallcap Index ending the session with gains of 0.67 per cent.

The market rally significantly boosted investor wealth. The total market capitalisation of companies listed on the BSE rose to Rs 482.40 lakh crore (provisional) at the close of trading, compared with Rs 479.03 lakh crore in the previous session on Tuesday. As a result, investors' wealth increased by approximately Rs 3.37 lakh crore during the day.

A total of 4,442 stocks were actively traded on the BSE, of which 2,297 advanced, 1,974 declined and 171 closed unchanged. On the NSE, 2,969 stocks witnessed active trading, with 1,616 ending higher and 1,353 closing lower. Among the 30 Sensex constituents, 18 stocks finished in positive territory while 12 declined. Of the 50 Nifty constituents, 25 advanced and 25 ended lower.

Among the blue-chip stocks, Eternal emerged as the top gainer with a rise of 3.02 per cent, followed by UltraTech Cement (2.75 per cent), HDFC Life Insurance (2.44 per cent), Shriram Finance (1.96 per cent) and Eicher Motors (1.72 per cent).

On the losing side, Power Grid Corporation fell 1.90 per cent, followed by Hindalco Industries (1.90 per cent), Larsen & Toubro (1.68 per cent), JSW Steel (1.67 per cent) and Tata Steel (1.60 per cent), making them the day's top losers.

Hindusthan Samachar / Jun Sarkar