Sensex rises 333 points, Nifty closes above 23,200; all eyes on Fed meet outcome. What to expect?

The Indian stock market snapped a two-session losing streak on Wednesday, with Sensex and Nifty closing in the green and recovering some of the losses recorded during yesterday’s sharp crash that wiped off more than Rs 9 lakh crore from Dalal Street.

Sensex gained 333 points to close at 74,336, while Nifty 50 rose 99 points to end the session near 23,218. Broader markets however remained in the red, with Nifty Midcap 100 down marginally and Nifty Smallcap 100 falling 0.18%.

ITC, SBI, Axis Bank and Trent shares gained around 2% each to lead gains on Sensex. Bucking the trend, TCS shares fell around 3% while Infosys and Tech Mahindra shares fell more than 1% each.

Among the sectors, Nifty FMCG gained more than 1.6% while Nifty PSU Bank index rose over 1.4%. Nifty IT meanwhile tumbled around 1.6%. The overall market breadth however remained negative, with NSE seeing 1,855 declines against 1,688 advances, while 119 stocks remained unchanged.