Sensex and Nifty rebound nearly 1%, snap three-day losing run

Gains in Reliance Industries, HDFC, HDFC Bank, Kotak Bank, HUL, and ITC helped indices bounce back

The Benchmark BSE Sensex rebounded nearly 1 per cent, while Nifty50 reclaimed the 17,100 level on Wednesday as value buying in energy, banking, information technology (IT), and fast-moving consumer goods (FMCG) shares helped the Indian indices cut short a three-day losing run.

Positive trends in European markets and the US stock index futures ahead of today’s Federal Reserve’s meeting minutes and inflation data, which is going to be released on Thursday, also boosted investor sentiment.

The 30-share BSE Sensex climbed 478.59 points or 0.84 per cent to settle at 57,625.91. During the day, it jumped 540.32 points or 0.94