INSUBCONTINENT EXCLUSIVE:
Mumbai:
Stock market benchmark indices Sensex and Nifty rebounded sharply in
morning trade on Wednesday after heavy drubbing in the previous session amid buying in blue-chip bank stocks and a firm trend in Asian
peers.The 30-share BSE benchmark gauge Sensex bounced back in early trade and later jumped 835.2 points or 1.02 per cent to 82,021.64
The NSE Nifty surged 262.3 points or 1.06 per cent to 24,946.20.From the Sensex firms, Sun Pharma, Bajaj Finance, UltraTech Cement, Mahindra
& Mahindra, Bajaj Finserv, Tech Mahindra, HDFC Bank and Tata Motors were the biggest gainers.IndusInd Bank emerged as the only
laggard.Moody's Ratings said on Wednesday, India is well-positioned to deal with the negative effects of US tariffs and global trade
disruptions as domestic growth drivers and low dependence on exports anchor the economy.In a note on India, the agency said government
initiatives to boost private consumption, expand manufacturing capacity and increase infrastructure spending will help offset the weakening
outlook for global demand.In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading in
the positive territory while Japan's Nikkei 225 index quoted lower.US markets ended lower on Tuesday.Global oil benchmark Brent crude jumped
1.62 per cent to USD 66.44 a barrel.Foreign Institutional Investors (FIIs) offloaded equities worth Rs 10,016.10 crore on Tuesday, according
to exchange data.Retreating from early highs, the 30-share BSE Sensex tanked 872.98 points or 1.06 per cent to settle at 81,186.44 on
The Nifty tumbled 261.55 points or 1.05 per cent to 24,683.90.(Except for the headline, this story has not been edited by
TheIndianSubcontinent staff and is published from a syndicated feed.)
