Sensex, Nifty rebound sharply a day after steep fall

After days of volatility, the stock market saw a sharp fall on Tuesday. But on Wednesday, as trade opened, both the Sensex and Nifty saw a strong rally. The BSE Sensex jumped more than 500 points from the previous day's close. The NSE Nifty also crossed the 23,200 mark. Shares of several large companies, including ITC, HCL and BEL, also rose well during the rally.

When the market opened on Wednesday, the BSE Sensex rose from its previous close of 74,003 to open at 74,249. It then picked up pace and climbed more than 500 points to reach 75,505. The NSE Nifty opened at 23,201, up from its previous close of 23,118, and then suddenly rose to 23,281.

The market had taken a big hit on Tuesday. Both the Sensex and Nifty had started well, but within a short while of trading, both indices had fallen sharply. By the end of trade, the BSE Sensex had closed at 74,003, down 777 points, which was 1,433 points below the day's high. The NSE Nifty closed at 23,118, down 279 points, which was 474 points below the day's high.

During this sharp rally on the third trading day of the week, shares of M&M, ITC, Reliance and HUL in the BSE large-cap category were trading with gains of nearly 2 percent. Among mid-cap stocks, Yes Bank shares rose 3.2 percent and Colgate shares rose 1.5 percent. In the small-cap category, shares of Apollo Tyres, MSUMI and HSCL were also trading higher.

Market experts advise investors to consult their market expert before making any investment in the stock market.