Equities witnessed a smart rebound from the pessimistic four-day sell-off on value-buying in beaten-down counters as the benchmark Nifty rose by a healthy 38 points on the National Stock Exchange here.
Buoyant Asian sentiment following a sharp rebound in China's Shanghai Composite index after recent carnage and a positive finish on Wall Street overnight predominatly helped boost mood of investor.
Hectic short covering by speculators in bluechip stocks in view of July's derivatives expiry tomorrow also supported the recovery.
After a firm start, bourses traded in a tight range with stock specific actions reacting to earnings outcome amid volatility owing to F&O expiry as well as bouts of profit taking at higher levels.
Though, many large investors opted for watchful waiting ahead of the Fed statement, which will be announced tonight.
The broader 50-share Nifty hovered between a high of 8,381.50 and a low of 8,338.45 before finishing at 8,375.05, revealing a healthy gain of 38.05 points, or 0.46 per cent.
Among sectoral indices, media jumped by 2.70 per cent followed by IT 1.45 per cent, Auto 1.32 per cent, realty 1.29 per cent alongside infra, metal, bank nifty and healthcare.
However, energy, fmcg and psu bank saw renewed selling.
Biggest index gainers were Infosys, Bosch, L&T, ICICI Bank, HCL-Tech, Tata Motors, HDFC, Maruti, Axis Bank, Sun Pharma, Bharti Artel, Yes Bank, Zee, Lupin and Wipro.
Notable losers included ITC, Reliacne, SBI, Tata Power, HUL, Dr Reddys', PNB, NTPC, Power Grid, Kotak Bank and GAIL.
Turnover in the cash segment fell to Rs 17,194.07 crore compared to Rs 18,178.43 crore yesterday.
A total of 8,837.9 lakh shares changed hands in 76,40,918 trades and the total market capitalisation of NSE stood at Rs 99,84,799 crore.
