Bull Ride: Sensex Rises as Banks Lead Gains

Stock markets rebounded strongly on Wednesday, ending a three-day losing streak, with major support from HDFC Bank and ICICI Bank. The Sensex rose by 410 points to close at 81,596.63, while Nifty gained 129 points, ending at 24,813.45. The sharp recovery was backed by gains in top stocks such as Bajaj Finserv, Tata Steel, Sun Pharma, and Tech Mahindra. During the day, Sensex had surged over 835 points before settling lower.

The positive momentum was supported by a firm trend in Asian markets and optimism around India’s economic stability. Moody’s stated that India is well-prepared to face global trade pressures, thanks to strong domestic demand, government spending, and lower reliance on exports. Asian indices mostly closed higher, although Japan’s Nikkei dipped. European markets remained weak, and US stocks had closed lower the previous day.

Despite the rally, Foreign Institutional Investors sold stocks worth Rs 10,016 crore, keeping the overall sentiment cautious.