Benchmark indices recovered on Wednesday after falling
for five sessions in a row, with the Sensex gaining 574.35 points on the back
of buying in Reliance Industries and recovery in Infosys, TCS and HDFC twins. A
largely positive sentiment in global markets supported the benchmarks to gain
ground.

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Breaking the five-day losing streak, the BSE Sensex
surged 574.35 points or 1.02% to close at 57,037.50. During the day, the index
jumped 753.36 points or 1.33% to 57,216.51.

The NSE Nifty closed 177.90 points or 1.05% higher to
17,136.55.

Auto, pharma, IT, oil & gas indices jumped 1%-2%
each, while selling is seen in the metal and banking names. BSE midcap and
smallcap indices ended in the green.

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Major gainers from the 30-share pack include UltraTech
Cement up 3.52%, Maruti up 3.17%, Reliance Industries up 3.10%, Asian Paints up
3.03%, TCS up 2.35%, Hindustan Unilever Limited 2.30%, Bharti Airtel up 2.32%,
HDFC up 2.01% and Dr Reddy’s up 1.90%.

Among the losers were Bajaj Finance down by 3.35%, ICICI
Bank down by 1.45%, Bajaj Finserv down by 1.15%, Tata Steel down by 0.89% and
ITC down by 0.75%.

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In the last five sessions, Sensex had lost significant
2,984.03 points while the Nifty shed 825.70 points.

The rupee rallied 29 paise to settle at 76.21 against the
US dollar.

Among Asian market peers Hong Kong, Seoul and Shanghai closed
lower, while Tokyo ended in red.

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European markets were trading higher in the mid-session
deals.

US Stocks had ended significantly higher in the overnight
session.

International oil benchmark Brent crude gained 0.89% to
USD 108.2 per barrel.

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According to stock exchange data, foreign institutional
investors continued their selling spree, offloading shares worth a net Rs
5,871.69 crore on Tuesday.