Markets bounce back on fag-end buying; sensex closes at 58,350.53 points

Mumbai: Equity benchmarks staged a comeback during the fag-end of trade on Wednesday, with the Sensex climbing over 214 points amid continuous foreign fund inflows and a largely positive trend in global markets.

Buying in IT counters and Reliance Industries added to the momentum.

In a volatile session, the 30-share BSE benchmark ended 214.17 points or 0.37 per cent higher at 58,350.53. During the day, it hit a high of 58,415.63 and a low of 57,788.78.

The broader NSE Nifty went up by 42.70 points or 0.25 per cent to 17,388.15.

Among the Sensex constituents, Tech Mahindra, TCS, Infosys, Titan, Asian Paints, ICICI Bank, Bharti Airtel and Reliance Industries were the major gainers.

On the other hand, Maruti Suzuki, Sun Pharma, Kotak Mahindra Bank, IndusInd Bank and Bajaj Finance were among the laggards.

In Asia, markets in Seoul, Tokyo and Hong Kong ended higher, while Shanghai settled lower.

European stocks were trading in the green during mid-session deals. The US markets had ended lower on Tuesday.

Meanwhile, international oil benchmark Brent crude declined 0.91 per cent to USD 99.63 per barrel.

Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 825.18 crore on Tuesday, as per exchange data.