Sensex jumps 500 points, Nifty reclaims 8,950

After a negative start in the early morning session, Indian equity markets staged a smart recovery on Wednesday, lifted by pharma, FMCG, and auto stocks, despite weakness in most global indices.

At 10 am, BSE Sensex index was up 392.47 points, or 1.31%, at 30,459.68 levels. The Nifty50 index jumped 147.05 points, higher at 8,939.25 levels. Nifty Bank index, up 5.5 per cent, was the top sectoral gainer. 

Yesterday, Indian equity indices recorded their biggest single-day gain on Tuesday with the BSE Sensex gaining over 2,400 points. 

Positive global cues and healthy buying in the banking, healthcare stocks among others supported boosted the nearly 9 per cent surge and helped the benchmark index was able to reclaim the psychological mark of 30,000.