Sensex rallies 996 points, Nifty reclaims 9,300-mark

Axis Bank was the top gainer as banking stocks led the rally in a highly volatile session.

Equity benchmark Sensex on Wednesday ended its losing streak to end higher by close to 1,000 points as banking stocks led the rally in a highly volatile session.

After opening at 30,793.11 against Tuesday's closing of 30,609.30, Sensex turned volatile and dropped to 30,525.68 as uncertainty continued over the impact of easing coronavirus-enforced lockdown. It settled 995.92 or 3.25% higher at 31,605.22.

Similarly, NSE Nifty rose by 285.90 points or 3.17% to close at 9,314.95.

Axis Bank was the top gainer in the Sensex pack, rising 13.46%, followed by ICICI Bank, HDFC Bank, IndusInd Bank, Bajaj Finance and Kotal Bank.

On the other hand, Sun Pharma was the top laggard, followed by UltraTech Cement, Titan, Asian Paints, Maruti and Power Grid.

In the Nifty pack, Axis Bank, ICICI Bank, Wipro, Grasim, Bajaj Finance and HDFC Bank were the top gainers while Sun Pharma, UltraTech Cement, Zeel, Titan and Asian Paints led the list of laggards.

In the previous session, the BSE barometer declined 63.29 points or 0.21% to end at 30,609.30, while the broader Nifty closed 10.20 points or 0.11% down at 9,029.05.

The volatility in the session was credited to uncertainty over lockdown relaxations and resumption of business activities as coronavirus cases continue to rise in the country. According to the Union Health Ministry, coronavirus cases in India climbed to 1,51,767 and the death toll touched 4,337 on Wednesday.