Sensex jumps 567 points on IT recovery

MUMBAI: The sensex rebounded nearly 567 points and Nifty regained 23,150 level on Wednesday following value buying in IT and

banking shares

and firm

global trends

.
The ensex surged 567 points or 0.75% to close at 76,405, driven by gains in Infosys, TCS and HDFC Bank. During the day, the benchmark surged 624.77 points or 0.8% to hit an intraday high of 76,463.
The broader NSE Nifty climbed 131 points or 0.57% to settle at 23,155. In the intraday session, the Nifty rose 145 points or 0.63% to 23,170 on the NSE.
The key stock indices had slumped to seven-month lows on Tuesday due to foreign fund outflows and profit-taking by investors amid tariff war worries. The sensex tanked by 1,235 points and Nifty by 320 points.

“The benchmark indices rebounded amidst heightened volatility following better-than-expected results from a major private bank. The IT sector led gains, recovering from recent losses, while mid and small-cap stocks continued to underperform due to valuation concerns,” Vinod Nair of Geojit Financial Services said.