Closing Bell: Markets rebound, Nifty settles at 17200

Domestic equity bourses Sensex and Nifty jumped today in a rebound following two days of losses, given the strength across most global markets after a rally on Wall Street.

Indian equity market snapped the two-day losing streak to close higher on Tuesday after a two-session losing streak, pushed higher by an increase in risk-taking trades broadly on positive global cues.

Among trending stocks today, Mahindra CIE Automotive surged over 13% after its March quarter net profit jumped to Rs 161.42 crore in the January-March quarter from Rs 10.09 crore in the same period a year ago. On the other hand, shares of Future Group companies tumbled again on Tuesday on concerns the group faces bankruptcy risks after the Rs 24,713-crore Reliance deal failed. While in other news, shares of Zee Learn on Tuesday tumbled about 20% after Yes Bank Ltd moved National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against the firm. Owing to these developments benchmark indices broke the two-day losing streak and ended higher.

At the closing bell on April 26, the Sensex was up 776.72 points or 1.37% at 57,356.61, and the Nifty was up 246.80 points or 1.46% at 17,200.80. On the market depth, 1886 shares have advanced, 1422 shares declined, and 108 shares are unchanged.

Top Nifty gainers of the day include Bajaj Auto, Adani Ports, Hero MotoCorp, Power Grid Corp and M&M, while top losers included ONGC, Apollo Hospitals, Axis Bank, Hindalco Industries and Asian Paints.

In sectors, all the indices ended in the green with auto, realty and power indices gaining 2-3%. In the broad market, BSE midcap and smallcap indices rose 0.7-1.6%.

In global markets fears stoked by China's stringent COVID-19 curbs and an expected streak of aggressive US Federal Reserve tightening are likely to increase risk appetite and weigh on global equities.