After two days of losses, equity benchmark indices rebounded on Wednesday, with the Sensex gaining over 350 points in early trade, aided by buying in index heavyweights Reliance Industries and Infosys, amid a mostly upbeat Asian market.

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The Sensex was up 349.66 points to 58,926.03 while the Nifty increased by 109.85 points to 17,640.15 points in early trade.

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Bajaj Finance, Tata Steel, Bharti Airtel, Larsen & Toubro, Hindustan Unilever Limited, Reliance Industries, M&M, Maruti Suzuki, Wipro, ITC, and Infosys were among the notable gainers from the 30-share pack. Dr Reddy’s, Asian Paints, HDFC Bank, and Titan, on the other hand, were the laggards.

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The Sensex fell 388.20 points, or 0.66%, to 58,576.37 in the previous trade. The Nifty finished at 17,530.30, down 144.65 points or 0.82%.

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According to official data issued on Tuesday, retail inflation hit a 17-month high of 6.95% in March, remaining beyond the Reserve Bank’s maximum tolerance limit, while industry output climbed just 1.7% in February.

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In Asia, markets were mainly higher in mid-session trades, with Hong Kong, Seoul, and Tokyo quoted in the green, while Shanghai was marginally lower. On Tuesday, US stocks finished modestly down.

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According to market data, foreign institutional investors continued to sell shares worth Rs 3,128.39 crore on Tuesday.

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Brent crude, the international oil benchmark, rose 0.05% to USD 104.69 a barrel. In early trade, the rupee is down 5 paise to 76.20 against the US dollar.