Sensex rebounds 238 points, Nifty closes above 23,950; investors add over Rs 5 lakh cr in a day

Mumbai: Equity benchmark indices bounced back on Thursday as investors returned to buying after the previous session's sharp sell-off, with the focus shifting to the June quarter earnings season and domestic economic indicators. The BSE Sensex rose 238.33 points, or 0.31 per cent, to close at 76,741.82, while the NSE Nifty 50 gained 81.15 points, or 0.34 per cent, to settle at 23,962.80. The recovery came a day after both benchmark indices had fallen more than 2 per cent. However, gains remained capped amid fresh hostilities between the US and Iran and a rise in crude oil prices, which continued to weigh on investor sentiment. The broader market outperformed the headline indices, reflecting strong buying interest in mid- and small-cap stocks. The Nifty Midcap 100 advanced 1.38 per cent, while the Nifty Smallcap 100 climbed 1.80 per cent. The rally added more than Rs 5 lakh crore to investors' wealth in a single trading session. The combined market capitalisation of BSE-listed companies increased to Rs 476.4 lakh crore from Rs 471.2 lakh crore in the previous session. Stock-specific buying drives gains Stock-specific buying supported the market despite lingering geopolitical uncertainties. Bharti Airtel, HDFC Bank and Sun Pharma were among the biggest contributors to the Sensex's gains. On the other hand, Infosys, Axis Bank and Maruti emerged as the key drags on the benchmark. Out of the 50 constituents of the Nifty, 33 stocks ended higher while 17 closed in the red. Sun Pharma, Bharti Airtel, Bajaj Finserv, InterGlobe Aviation (IndiGo) and Eternal were the top gainers, rising between 2 per cent and 3 per cent. Among the laggards were Dr Reddy's Laboratories, Maruti Suzuki, ONGC and Infosys. Realty, media stocks shine Sectorally, real estate stocks led the rally, with the Nifty Realty index surging 3.54 per cent. The Nifty Media index gained 2.09 per cent, followed by Consumer Durables, which rose 1.68 per cent. PSU Bank stocks climbed 1.62 per cent, while the Healthcare index added around 1 per cent. The Bank Nifty also ended higher, gaining 0.90 per cent. Market participants will now closely track the June quarter earnings season, with corporate results expected to provide fresh direction to domestic equities amid continued global uncertainty and fluctuations in crude oil prices.