Stock Market Highlights: Sensex ends 567pts up led by Infy, HDFC Bank; Broader indices fall over 1%
Equity benchmark indices experienced a roller-coaster session on Wednesdaywith significant intraday volatility. After a relatively stable start, the indices pared early gains and slipped into the red before rebounding strongly, led by gains in IT and private banking stocks.
The BSE Sensex opened higher at 76,114, dropped to an intraday low of 75,817, and then surged to a high of 76,461, ultimately closing with a gain of 567 points at 76,405.
Similarly, the NSE Nifty50 index briefly fell below the 23,000 mark for the second consecutive day, touching a low of 22,981. However, it rebounded to close 131 points higher at 23,155.
HDFC Bank played a significant role in the midday recovery, following its Q3 results that reported a 2% year-on-year growth in net profit at ₹16,735.5 crore, exceeding analysts’ expectations. The stock ended 1.7% higher at ₹1,669.
Other gainers among the Sensex 30 stocks included Infosys and TCS, which surged around 3% each. Tech Mahindra, Sun Pharma, Bajaj Finserv, HDFC Technologies, Bajaj Finance, Maruti, Kotak Bank, IndusInd Bank, and Zomato gained between 1% and 2%.
On the downside, Tata Motors declined over 2%, while Power Grid, Axis Bank, and SBI also ended as notable losers.
In the broader market, the BSE MidCap index slipped 1.2%, while the SmallCap index fell 1.6%. Both indices recovered some losses in the latter half of the session.
Sectorally, the BSE Realty index dropped to a 10-month low, while the Capital Goods index declined nearly 2%. Conversely, the IT index rallied over 2% during the day.
Disclaimer: The article provided above is for informational purposes only and should not be considered financial or investment advice. Investors are advised to consult with a qualified financial advisor before making investment decisions. The stock market is subject to risks, and past performance does not guarantee future results.
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