Sensex, Nifty rebound over 1% as financials, FMCG shares gain

Benchmark stock indices Sensex and Nifty jumped over 1% on Wednesday amid foreign funds turning net buyers of domestic equities after a long gap and positive opening in European stock markets.

The 30-share BSE benchmark index climbed 616.62 points or 1.16% to settle at 53,750.97. During the day, it rallied 684.96 points or 1.28% to 53,819.31.

The NSE Nifty advanced 178.95 points or 1.13% to 15,989.80.

Among Sensex scrips, Bajaj Finserv, Bajaj Finance, Hindustan Unilever, Asian Paints, Titan, Maruti Suzuki India, Kotak Mahindra Bank and Nestle were the major gainers.

Power Grid, NTPC, Reliance Industries, Larsen & Toubro and Tata Steel were the laggards.

The BSE barometer had declined 100.42 points or 0.19% to settle at 53,134.35 on Tuesday. The Nifty dipped 24.50 points or 0.15% to 15,810.85.

“According to preliminary data made public on the NSE, FIIs became net purchasers on July 5 for the first time since May 30, purchasing shares worth Rs 1,295.84 crore,” Mohit Nigam, Head – PMS at Hem Securities, said.

Elsewhere in Asia, markets in Tokyo, Shanghai, Hong Kong and Seoul ended lower on Wednesday.

European markets were trading higher in mid-session deals.

The U.S. markets ended mostly higher on Tuesday.

Meanwhile, international oil benchmark Brent crude jumped 2.43% to $105.3 per barrel.