Indian equities benchmarks bounced back sharply on Wednesday morning on the back of short covering as shorts were built up yesterday amid weak global cues.
Recovery in global markets and especially in Japanese shares too led the support as it seems that sentimental effect due to massive 8.9 magnitude quake, tsunami and blasts in nuclear reactors eased for the time being.
Even crude cooled off in international markets on the back of likely lower demand in devastated Japan - world's third largest economy. London Brent crude was trading at below USD 108 a barrel and Nymex crude was below USD 97 a barrel.
Among frontliners, ONGC, IOC, Reliance Industries, Reliance Capital, Reliance Communications, Reliance Power, Reliance Infrastructure, BPCL, Sterlite, Tata Steel, Jaiprakash Associates, M&M, Tata Motors, Dr Reddy's Labs, Ranbaxy Labs, SBI, HDFC and ICICI Bank were supporting the markets.
However, Hero Honda was the only loser on Nifty.
50-share NSE Nifty rallied 54 points to 5,504 and the 30-share BSE Sensed gained 187 points at 18,355. The CNX Midcap went up 65 points to 7,598 and the Nifty Junior rose 99 points to 10,695. 693 shares advanced as against 138 shares declined on National Stock Exchange.
Even crude cooled off in international markets on the back of likely lower demand in devastated Japan - world's third largest economy. London Brent crude was trading at below USD 108 a barrel and Nymex crude was below USD 97 a barrel.
Among frontliners, ONGC, IOC, Reliance Industries, Reliance Capital, Reliance Communications, Reliance Power, Reliance Infrastructure, BPCL, Sterlite, Tata Steel, Jaiprakash Associates, M&M, Tata Motors, Dr Reddy's Labs, Ranbaxy Labs, SBI, HDFC and ICICI Bank were supporting the markets.
However, Hero Honda was the only loser on Nifty.
50-share NSE Nifty rallied 54 points to 5,504 and the 30-share BSE Sensed gained 187 points at 18,355. The CNX Midcap went up 65 points to 7,598 and the Nifty Junior rose 99 points to 10,695. 693 shares advanced as against 138 shares declined on National Stock Exchange.
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