Despite the ongoing turmoil in the Middle East, Indian market benchmarks pulled through on Wednesday, logging their third consecutive day of closing higher.
This was due to a rally in tech stocks, supported by a slip in crude prices.
The 30-pack BSE Sensex closed 633.29 points (0.83 per cent) higher at 76,704.13. At its highest during the day, the index had gained 929 points.
The Nifty also traded higher by around the same percentage, gaining 196.65 points to reach 23,777.80 at the closing bell.
Eternal, Tech Mahindra, Infosys, Mahindra & Mahindra, and HCL Tech were the major gainers in the Sensex, while NTPC, Hindustan Unilever, Sun Pharma, and HDFC Bank saw the widest slumps.
Market watchers attributed the third day of gains to recovery value buying after the recent bout of sell-offs.
The market is also on the lookout for the US Federal Reserve’s potential rate revisions, while other analysts say that the rebound is a market correction after last week’s major dips.
