Sensex resilience, bounces back, rallies over 1,000 pts from intraday low

The Indian equity benchmark indices ended on a positive note in the highly volatile market on Wednesday,after hotter-than-expected US inflation fuelled concerns of further delay in the easing of rates by the Federal Reserve and weighed on sentiment.At close, the Sensex was up 267.64 points or 0.37 percent at 71,822.83, and the Nifty was up 96.80 points or 0.45 percent at 21,840.05. About 1948 shares advanced, 1361 shares declined, and 73 shares unchanged.
Stocks and Sectors
BPCL, SBI, Coal India, ONGC and Axis Bank were among the top gainers on the Nifty, while losers included Tech Mahindra, Cipla, Sun Pharma, TCS and Dr Reddy's Laboratories.
On the sectoral front, PSU Bank and Oil & Gas indices rose 3 percent each, while auto, bank, FMCG, capital goods, metal, power and realty up 1.2 percent each. On the other hand, Information Technology and Pharma indices down 1 percent each. BSE Midcap and Smallcap indices added 1 percent each.
On 14 Feb'24,the Indian rupee depreciated 4 paise to 83.12 against the US dollar in early trade on Wednesday, tracking a negative trend in domestic equities. Forex traders said the strength of the American currency and elevated crude oil prices in the international market dented investors' sentiments.
Experts Take:
Market experts have recommended nine stocks to buy for Wednesday- Solar Industries, Taj Gvk Hotels & Resorts, DLF, Kotak Bank, Havells, Natco Pharma, Inox Wind Ltd, Suven Pharmaceuticals Ltd and Poonawalla.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)