In volatile trade, the Bombay Stock Exchange (BSE) sensitive index (Sensex) on Wednesday made a remarkable comeback from the initial hesitancy and rallied to end at 12,109.14, gaining a whopping 138.67 points over Tuesday on heavy buying by foreign funds even though most of the Asian markets remained depressed.
The BSE 30-share Sensex opened weak at 11,946.32 as compared to the Tuesday close of 11,970.47 and after swinging in a wide range between a high of 12,128.99 and low of 11,833.61, ended at 12,109.14, showing a remarkable rally of 138.67 points or 1.16 per cent over the previous close.
At the National Stock Exchange (NSE) the S&P CNX Nifty gained by 45.45 points at 3,502.80 from 3,457.35 on Tuesday.
The depressed trend seen during the morning trade was due to weak Asian advices along with fall in crude oil. Later, on revival of heavy buying, mainly by Foreign Institutional Investors (FIIs), prices turned sharply firm.
Foreign Institutional Investors (FIIs) continued their buying spree and reportedly purchased shares worth Rs 495.10 crore on Monday after net inflows of Rs 1,444 crore in the last week.
They also injected Rs 174.31 crore on Tuesday in cash as per provisional figures while removing Rs 245.49 crore from derivatives on the same day.
Oil prices fell to six-month low of $61.66 per barrel in New York on Tuesday as softer-than-expected US economic data helped accelerate the recent sell off.
The trading volume was relatively low at Rs 3,418.37 crore from Rs 3,706.58 crore on Tuesday. Voltamp Transformers, which debut on Wednesday, clocked the highest turnover of Rs 345.72 crore followed by RIL (Rs 137.98 crore), India Bulls (Rs 136.29 crore), Rel Com (Rs 129.72 crore) and EDU Comp (Rs 115.11 crore).
Led by auto segment, other sectoral indices like FMCG and Teck ended smartly higher.
The broad-based BSE-100 Index recovered by 61.12 points to 6,144.42 from Tuesday's close of 6,083.30.
The BSE-200 Index and the Dollex-200 were quoted higher at 1,450.53 and 524.98 at close compared to previous close of 1,436.10 and 518.90 respectively. The BSE-500 Index rose by 41.89 points to 4,598.07 from 4,556.18 and the Dollex-30 ended higher at 2,161.45 from 2,132.87.
Among major gainers, RIL firmed up by 8.95 to 1127.30, ONGC by 20.55 to 1172.80, Tata Motors by 10.95 to 842.05, Hero Honda by 4.85 to 772.55, Maruti by 11.85 to 928.10, Bajaj Auto by 28.55 to 2793.50, ACC by 7.05 to 947.15, Bharti Airtel by 22.25 to 461.65, Cipla by 1.80 to 256.20, Grasim by 6.10 to 2445.50, HLL by 2.85 to 250.15, ICICI Bank by 4.65 to 651.40, Infosys Tech by 7.80 to 1824.30, L&T by 49.60 to 2696.70, NTPC by 2.25 to 129.70, Rel Com by 14.35 to 345.65, Satyam Computer by 5.95 to 843.85, Tata Steel by 8.10 to 496.65, TCS by 17.30 to 1027.50 and Wipro by 4.70 to 517.60.
However, SBI eased by 3.10 to 974.60, BHEL by 4.75 to 2251.50, Dr Reddy by 2.35 to 753.85 and HDFC Bank by 5.90 to 874.25.