Snapping a three-day losing streak, the domestic benchmark indices settled with decent gains on Wednesday, aided by buying in select bluechip counters such as HDFC twins, L&T, Reliance Industries (RIL) and ICICI Bank.
The S&P BSE Sensex
gained 180 points or 0.5 per cent to settle at 35,650 after witnessing a 700-point swing in the intra-day trade. Bharti Airtel (up 4 per cent) emerged as the top gainer on the index while pharma major Sun Pharma(down nearly 2 per cent) declined the most.
On NSE, the Nifty50 index added 66 points or 0.62 per cent to close the session at 10,730, with 36 constituents in the green and 14 in the red.
In individual stocks, Brigade Enterprises zoomed 14 per cent on BSE after the brokerage firm Motilal Oswal Securities initiated the coverage on the stock with a Buy rating and 12-month target price of Rs 282. The stock settled at Rs 235 apiece, up 14 per cent.
Jubilant FoodWorks, which operates the Domino’s franchise, dipped 5 per cent to Rs 1,155, extending its 10 per cent decline in the past two trading days, on concerns of rising employee expenses and higher base and more intense competition from food aggregators. The stock, however, recovered later in the day to end at Rs 1,232, up 1 per cent on BSE.
In the broader market, the S&P BSE MidCap index ended flat at 15,169, down just 1.65 points while the S&P SmallCap index closed the session at 14,439, down 27 points or 0.19 per cent.
Sectorally, media stocks gained the most, followed by financials and metal counters. The Nifty
Media pack surged 51 points or 2 per cent to close at 2,465.