Indian equity benchmarks staged a strong rebound on October 29, with the Nifty closing above the 22,900 mark amid broad-based buying across sectors, barring auto stocks.

Amid mixed global cues, the market opened on a muted note but gained momentum as the session progressed, led by IT and banking stocks. Sentiment was supported after the US Federal Reserve kept its key policy rate unchanged in the 3.75–4% range, in line with market expectations.

At close, the Sensex was up 905.01 points or 1.24 percent at 74,151.04, and the Nifty was up 237.90 points or 1.05 percent at 22,936.75.

The broader markets performed inline with main indices with Nifty midcap and smallcap indices rising 1 percent each.

Biggest Nifty gainers were Adani Ports, Adani Enterprises, Kotak Mahindra Bank, Power Grid Corp, Eternal, while losers included Trent, Bajaj Auto, Maruti Suzuki, SBI Life Insurance and Hindalco Industries.

Except Auto, all other sectoral indices ended in the green with Nifty Bank, Energy, Consumer Durables, Media, Infra, IT, PSU Bank, Private Bank up 1 percent each, while Metal, Oil & Gas, Realty up more than 0.5 percent each.

Among individual stocks, share price of Nilkamal surged 13% after Q2 net profit doubles to Rs 68 crore, Jupiter Wagons shares gained 5 percent on an order win worth Rs 1,140 crore, while Aeroflex Industries jumped 9 percent following strong Q2 earnings. Hyundai Motor India surged 2.5 percent after CLSA maintained its ‘outperform’ rating with a target price of Rs 2,300 per share. JSW Energy rose 5.7 percent after CLSA maintained its ‘hold’ rating but cut its target price to Rs 522 per share.

On the losing side, Hero MotoCorp shares declined 3 percent despite a 4.55 percent year-on-year increase in standalone Q2 profit. R R Kabel fell 3 percent despite better Q2 results, Hexaware Technologies declined 7 percent despite better earnings. Vedanta Aluminium fell 3 percent after CLSA retained its ‘outperform’ rating, while Titagarh Rail Systems shed nearly 4 percent despite securing an additional Rs 1,716.90 crore order from the Ministry of Railways.

Indian rupee also saw smart recovery from the intraday low of 95.37 to end nearly flat at 95.25 per dollar on Thursday, compared with Wednesday’s close of 95.23.

More than 150 stocks touched 52-week low, including Dalmia Bharat, Tenneco Clean Air, DOMS Industries, Atul, Afcons Infra, SUMITOMO CHEMICAL INDIA, Yes Bank, Ramco Cements, Gujarat Energy, Cera Sanitary, Bharat Dynamics, Finolex Industries, JK Lakshmi Cement, Godrej Consumer, among others.

On the other hand, more than 80 stocks touched 52-week high, including Acutaas Chemicals, Kotak Mahindra Bank, FSN E-Co Nykaa, Indian Hotels, Laurus Labs, Sona BLW, Piramal Pharma, among others.