Share Market: After the decline, the stock market regained its glory, Sensex rose by 567 points, Nifty crossed 23,155.

Mumbai: Domestic stock markets regained their shine on Wednesday as shares of Infosys, HDFC Bank and TCS rose amid strong global trends. The Sensex jumped by about 567 points, while the Nifty once again touched the figure of 23,150. BSE's benchmark 30-share index Sensex closed at 76,404.99, up 566.63 points or 0.75 percent. At one time during trading, the Sensex had climbed 624.77 points to reach the level of 76,463.13. Similarly, the National Stock Exchange (NSE) index Nifty rose by 130.70 points or 0.57 percent and closed at 23,155.35.

At one time during trading it had increased by 144.9 points to reach 23,169.55. With this, the domestic stock markets made a strong comeback from the huge fall of the last trading session. On Tuesday, Sensex fell 1,235.08 points to close at seven-month low of 75,838.36 and Nifty fell 320.10 points to close at 23,024.65.

Infosys benefits the most

On Wednesday, among the stocks included in the Sensex group, information technology (IT) company Infosys registered the highest gain of 3.16 percent. Apart from this, there was a rise of 2.97 percent in Tata Consultancy Services and 2.28 percent rise in Tech Mahindra. Apart from these, shares of Sun Pharmaceutical, Bajaj Finserv, HCL Technology, Bajaj Finance, HDFC Bank, IndusInd Bank and Kotak Mahindra Bank also closed with gains. On the other hand, Tata Motors shares recorded the maximum decline of 2.24 percent. Along with this, shares of Power Grid, Axis Bank, State Bank of India, NTPC, Tata Steel and Adani Ports also declined.

Midcap index declined by 1.2 percent

Vinod Nair, head of research at Geojit Financial Services, said better-than-expected results from a major private sector bank led to a rise in the indices amid volatility. The information technology sector managed to recover from recent losses. Nair further said that amid this rally, concerns over high valuations of medium and small companies continued to underperform them. The BSE Smallcap index related to small companies declined by 1.56 percent and the Midcap index related to medium companies declined by 1.2 percent.

Despite the rise in benchmark indices, 2,802 of the BSE-listed companies were in the loss while 1,142 stocks advanced and 115 others remained unchanged. Sector wise indices focused on IT sector gained 2.19 per cent and IT sector gained 1.88 per cent. Whereas there was a sharp decline of 4.53 percent in the realty sector. Shares of electronic manufacturing services company Saint DLM saw a huge fall of 13.55 percent. Selling in its shares was dominated due to decline in December quarter profit.

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Condition of other markets in Asia

In other markets of Asia, Japan's Nikkei and South Korea's Kospi closed with gains while Hong Kong's Hang Seng and China's Shanghai Composite remained in decline. European markets were trading with gains. American markets closed with gains on Tuesday. Brent crude, the international oil benchmark, rose 0.49 percent at $79.68 per barrel. Foreign institutional investors (FIIs) had made a net sale of shares worth Rs 5,920.28 crore on Tuesday.