Sensex rebounds 620 pts; Nifty above 17,100

Equity benchmark Sensex rebounded 620 points on Wednesday, boosted by
gains in index majors Reliance Industries, Maruti and SBI amid a
positive trend in global markets.

The 30-share index ended 619.92 points or 1.09 per cent higher at
57,684.79. Similarly, the NSE Nifty surged 183.70 points or 1.08 per
cent to close at 17,166.90.

IndusInd Bank was the top gainer in the Sensex pack, rising nearly 6 per
cent, followed by Axis Bank, SBI, Maruti, Tech Mahindra and Reliance


On the other hand, Dr Reddy’s, UltraTech Cement, Sun Pharma, Bharti
Airtel and Titan were among the laggards.

Elsewhere in Asia, bourses in Hong Kong, Shanghai, Seoul and Tokyo ended
with gains.

Stock exchanges in Europe too were trading on a positive note in
mid-session deals.

Meanwhile, India’s manufacturing sector activities gained further
strength in November, and witnessed the strongest increase in production
and sales since February on improving market conditions, a monthly
survey said on Wednesday.

The seasonally adjusted IHS Markit India Manufacturing Purchasing
Managers’ Index (PMI), increased from 55.9 in October to 57.6 in
November, signalling the strongest improvement in the health of the
sector in ten months.

What is the PMI and Why Should You Know It? - More Than Shipping

According to SBI research report Ecowrap, the country’s gross domestic
product (GDP) is likely to grow more than 9.5 per cent in fiscal 2021-22.

International oil benchmark Brent crude advanced 3.96 per cent to USD
71.97 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the
capital market, as they sold shares worth Rs 5,445.25 crore on Tuesday,
as per exchange data.

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