Sensex, Nifty Rebound After Two-Day Decline on Global Cues

Indian benchmark indices rose in early trade Wednesday, reversing a two-day slide. The BSE Sensex climbed 182.42 points to 76,661.36, while the NSE Nifty added 49.90 points to 23,916.85.

Auto stocks led the advance. Mahindra & Mahindra and Maruti Suzuki India were among the top gainers on the Sensex, joined by Titan, Hindustan Unilever, UltraTech Cement, Adani Ports, and Asian Paints. On the losing side, Bajaj Finserv, Tech Mahindra, Larsen & Toubro, and NTPC slipped.

Global markets provided a tailwind. US indices closed higher Tuesday, with the Dow Jones finishing at a record 52,319. The Nasdaq rose 1.5% and the S&P 500 gained 0.8%, driven by a rally in semiconductor stocks. Asian markets traded mixed Wednesday. Japan's Nikkei 225 climbed over 1.6% to fresh highs, while Shanghai's SSE Composite edged up. South Korea's Kospi traded lower. Hong Kong markets were closed.

Foreign institutional investors sold equities worth Rs 2,556.75 crore on Tuesday, exchange data showed. That selling pressure partly explains the two-day decline that preceded Wednesday's rebound.

Brent crude, the global oil benchmark, traded at $73.24 a barrel, up 0.4%.