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Sensex And NIfty: Benchmark indices Sensex and Nifty soared in early trade on Wednesday as India-US hints at trade deal talks progress and stregnth trends in global markets boost investors' sentiment. The 30-share BSE Sensex jumped 502.82 points to 84,374.14 in early trade, while the 30-share BSE Sensex began the trade in green with a surge of 144.05 points to 25,839.

Sensex, Nifty Extend Gains Riding On IT, Services, Telecom Stocks

Meanwhile on Wednesday, Sensex and Nifty ended on firm footings despite starting on a weak note on Tuesday as investors rushed to grab low-priced bellwether stocks of IT, services and telecom players amid optimism on a US-India trade deal.

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The Sensex began the trade on a negative note by declining 411.32 points or 0.49 per cent to 83,124.03. The 50-share NSE Nifty dropped 125.1 points, or 0.48 per cent to 25,449.25 in the early trade. However, both the indices made a strong comeback and closed the session with significant gains.

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The Sensex jumped 335.97 points, or 0.40 per cent, to settle at 83,871.32, while the Nifty climbed 120.60 points, or 0.47 per cent, to close at 25,694.95. "The domestic market opened on a subdued note amid concerns over potential implications of the Delhi explosion. However, it recovered smartly and closed at the day's high, supported by global cues as the US Senate passed a bill to end the longest-ever federal shutdown.

"Importantly, the Q2 results season is nearing its end and is expected to conclude on a positive note, driven by better-than-expected performance by the broader market. The rally was sustained by gains in IT, auto, metal, and FMCG sectors," Vinod Nair, Head of Research, Geojit Investments Ltd, said.

Among the Sensex firms, Bharat Electronics Ltd, Mahindra & Mahindra, Adani Ports, HCL Technologies, Eternal, Infosys, Bharti Airtel, Sun Pharmaceuticals, Larsen & Toubro, Hindustan Unilever and UltraTech Cement were the gainers.

Bajaj Finance, Tata Motors Passenger Vehicles, Kotak Mahindra Bank, PowerGrid and Tata Steel were among the laggards. Bajaj Finance ended over 7 per cent lower as investors turned cautious after the company's lower Assets Under Management (AUM) growth guidance and rising signs of asset stress. Bajaj Finserv fell 6.26 per cent.

"Investors are now awaiting the upcoming domestic inflation data, with expectations of continued moderation due to a steady decline in food prices -- raising prospects of further policy easing by the RBI. 

(With PTI inputs)

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