Indian benchmark indices BSE Sensex and NSE Nifty rebounded on Wednesday after bearish stance on day before to gain about a per cent.

The development was riding on the opportunity that the investors saw to buy stocks on dips.

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At close, the Sensex was up 689.76 points or 0.98 per cent at 71,060.31, and the Nifty was up 215.20 points or 1.01 per cent at 21,454.00. About 2,131 shares advanced, 1,503 shares declined, and 108 shares remained unchanged.

During the day, Nifty Bank wiped off most of early gains and closed the day up 0.15 per cent at 45,082.40.

Barring Nifty Private Bank that slid 0.24 per cent, all other sectoral indices on NSE closed in the green.

The overall market capitalisation of the BSE-listed firms rose to nearly Rs 371.2 lakh crore from nearly Rs 366 lakh crore in the previous session, making investors richer by about Rs 5.2 lakh crore in a single session.

After a firm start, the market gyrated between gains and losses throughout the session, however, ended near day’s high amid last hour buying.

Top gainers on the Nifty were Hindalco Industries, Dr Reddy’s Laboratories, Tata Steel, Power Grid Corporation and HCL Technologies, while losers included ICICI Bank, Axis Bank, Asian Paints, Adani Ports and HDFC Life.

Among sectors, auto, Information Technology, capital goods, FMCG, metal, oil & gas and power up 1-2 per cent. BSE Midcap and Smallcap indices added nearly 2 per cent each.

Notably, in the previous session, foreign investors net sold Indian equities for the fifth straight session.

The net withdrew equities worth Rs 3,115.39 crore while domestic institutional investors net bought equities worth Rs 215 crore.

Among individual stocks, a volume spike of more than 1400 per cent was seen in SAIL, Delta Corp and Aditya Birla Fashion & Retail.

MTNL, AIA Engineering, Alembic Pharma, Andrew Yule, Borosil Renewable, Cummins India, HFCL, Hind Construction, IDBI Bank, IFB Industries, IFCI, Indus Towers, Lupin, Mishra Dhatu, Motilal Oswal, Puravankara, South Indian Bank, Sterling Wilson, Tube Investment, Vaibhav Global, among other stocks which touched their 52-week high on the BSE.