Benchmark indices snap eight-day losing streak; Sensex gains 449 points

Entire Adani pack gains for first time since Hindenburg report

India’s benchmark indices snapped their eight-day declining streak on Wednesday amid buying in beaten-down stocks, and positive sentiment on account of some bounce-back in Adani group shares.

Most global markets traded positive as strong manufacturing data from China helped offset concerns about a tighter monetary policy by the US Federal Reserve. China’s National Bureau of Statistics reported that its official manufacturing purchasing managers’ index rose to 52.6 in February, the highest since April 2012.

The Sensex rose 449 points, or 0.8 per cent, to end the session at 59,411, while the Nifty settled at 17,451 after gaining 147 points. On Wednesday, foreign