After a three-day losing streak, Indian benchmark indices staged a strong rebound in a volatile session, with the Nifty 50 closing comfortably above the 23,400 mark, led by gains in auto, banking and FMCG stocks.

After a subdued start, Indian equity markets remained highly volatile throughout the session, oscillating between gains and losses. However, strong buying in the final hour helped benchmark indices erase intraday losses and close in positive territory.

At close, the Sensex was up 938.93 points or 1.26 percent at 75,502.85, and the Nifty was up 257.70 points or 1.11 percent at 23,408.80.

Broader indices underperformed the benchmarks, with the Nifty Midcap index falling 0.3%, while smallcap index declining 0.5%.

Biggest Nifty gainers included M&M, Grasim Industries, Trent, UltraTech Cement, HDFC Bank, while losers were Bharat Electronics, Wipro, Max Healthcare, Sun Pharma, Coal India.

On the sectoral front, auto, bank, FMCG, metal up 0.3-1%, while media, oil & gas, pharma, realty, capital goods down 0.5-2.7%.

In stock specific, HPCL, BPCL, IOC shares fall 3-4% post HSBC downgrades, Omnitech Engineering shares shed 1.5% after Q3 profit falls, IDBI Bank stock crashed 17% on reports of govt may scrap majority stake sale, Tejas Networks shares rose 5% on selecting for a 4G network expansion project in South Asia, Bajel Projects shares gained 20% on EPC contract win worth over Rs 700 crore, Izmo shares added 5% on partnership with CCRAFT and Alcyon Photonics.


More than 800 stocks touched their 52-week low, including Gujarat Gas, Deepak Nitrite, AAVAS Financiers, Titagarh Rail Systems, Berger Paints, Triveni Turbine, Mahanagar Gas, Tata Chemicals, Chambal Fertilisers, Alok Industries, CE Info Systems, JK Lakshmi Cement, Bata India, Relaxo Footwear, PCBL Chemical, Gujarat State Petro, Trident, Ircon International, Mastek, ITC Hotels, among others.