New Delhi, 29 April (H.S.): After Tuesday's sharp decline, domestic markets rebounded strongly Wednesday, with both Sensex and Nifty posting robust gains—up over 1.4% by 1 PM—before profit-taking erased most advances. Sensex shed 486.15 points from its intraday high to close +609.45 at 77,496.36 (0.79% up), while Nifty dropped 157.05 points from peak to end +181.95 at 24,177.65 (0.76% gain).

Market experts attribute morning strength to positive Asian cues, robust DII buying, and retail value purchases at lower levels. Realty, auto, FMCG, and IT stocks attracted bargain hunting post-Tuesday's dip. DIIs continued net buying after Tuesday's ₹1,712 crore infusion, fueling positive sentiment.

Afternoon selling stemmed from surging crude prices—Brent hit $115.31/barrel, WTI neared $104—and rising India VIX, spooking investors. India's 88% oil import reliance amplifies crude spikes' impact on trade deficit and inflation, souring market mood.

Capex Gold & Investments CEO Rajiv Dutta noted sustained Asian gains in Hang Seng, KOSPI, SET Composite, Jakarta Composite, and Shanghai Composite provided early support, but global crude rally triggered pullback as investors opted for profit-booking.

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Hindusthan Samachar / Jun Sarkar