Mumbai Apr 20 PTI Benchmark indices bounced back on Wednesday after falling for five straight sessions with investors snapping up the recently-mauled IT finance and consumption stocks amid a supportive trend overseas A rebounding rupee further bolstered sentiment traders said Halting its five-session slide the BSE Sensex jumped 57435 points or 102 per cent to finish at 5703750 Similarly the NSE Nifty surged 17790 points or 105 per cent to 1713655 The market breadth was in favour of the bulls with 20 of the 30 Sensex stocks closing in the green UltraTech Cement topped the Sensex gainers chart with a jump of 352 per cent followed by Asian Paints Maruti Reliance Industries TCS Bharti Airtel HUL and HDFC In value terms index heavyweight Reliance Industries accounted for almost half of the benchmarks gains In contrast Bajaj Finance ICICI Bank Bajaj Finserv Tata Steel ITC and LT were among the prominent laggards dropping as much as 335 per cent With support from recovery in beaten-down HDFC stocks and the IT sector the market countered yesterdays selloff Foreign investors are pumping out funds in large quantities while support from DIIs is helping the market to partially balance the pressure A similar level of volatility can be expected to continue until global uncertainties settle down leading to a softening of FII selling said Vinod Nair Head of Research at Geojit Financial Services S Hariharan Head- Sales Trading Emkay Global Financial Services said A series of sharp negative reactions to minor misses in earnings from large caps Infosys and HDFC Bank point to a precarious state of positioning among investors Under-weight positioning in energy and materials sectors and over-weight positioning in IT and consumer-facing sectors across both DII and FII investors has served to accentuate under-performance by active strategies he added The BSE midcap index gained 045 per cent while the smallcap gauge jumped 036 per cent As many as 1738 stocks advanced while 1662 declined and 110 remained unchanged Among BSE sectoral indices auto gained the most by 221 per cent followed by energy 219 per cent oil and gas 185 per cent and telecom 140 per cent while metal 041 per cent utilities 018 per cent and bank 017 per cent were among the losers World stocks ticked higher as investors monitored hardening bond yields as well as the war in Ukraine Elsewhere in Asia markets in Hong Kong Seoul and Shanghai settled lower while Tokyo ended with gains Bourses in Europe were trading in the positive territory in the afternoon session Stocks in the US had ended significantly higher on Tuesday International oil benchmark Brent crude gained 089 per cent to USD 1082 per barrel The rupee appreciated by 29 paise to settle at 7621 provisional against the US dollar on Wednesday Foreign institutional investors continued their selling spree offloading shares worth a net Rs 587169 crore on Tuesday according to stock exchange data PTI SUM SUM ABM ABM

Mumbai Apr 20 PTI The rupee appreciated 19 paise to 7631 against the US dollar in opening trade on Wednesday tracking positive trends among Asian and emerging market currencies At the interbank foreign exchange the rupee opened at 7641 against the American dollar then gained further ground to quote at 7631 registering a rise of 19 paise from the last close On Tuesday the rupee depreciated by 21 paise to close at 7650 against the US dollar The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 032 per cent lower at 10064 Expectations of quicker rate hike continued to push the dollar and the bond yields higher and will continue to weigh on sentiments Sriram Iyer Senior Research Analyst at Reliance Securities said Most emerging market and Asian peers were stronger against the US dollar this Wednesday morning and could boost investor sentiments On the domestic equity market front the 30-share Sensex was trading 39578 points or 070 per cent higher at 5685893 points while the broader NSE Nifty advanced 12570 points or 070 per cent to 1708435 points Global oil benchmark Brent crude futures rose 103 per cent to USD 10835 per barrel Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 587169 crore as per stock exchange data PTI DRR RAM