Stock Market Live Updates Today: Sensex opens over 500 points up; Nifty50 goes above 23,800 on positive global cues

Benchmark equity index Sensex erased steep early losses to finish 117 points higher on Wednesday, supported largely by gains in Reliance Industries, even as investor sentiment remained cautious amid elevated crude oil prices and continued weakness in the rupee.

The 30-share BSE Sensex advanced 117.54 points, or 0.16%, to close at 75,318.39. The index had started the session on a weak note and at one stage dropped 671.44 points, or 0.89%, to touch an intraday low of 74,529.41. However, strong buying in oil and gas, financial and automobile stocks during the final hour of trade helped the benchmark recover sharply, rebounding nearly 877 points from the day’s lowest level.

The NSE Nifty 50 also ended in positive territory, gaining 41 points, or 0.17%, to settle at 23,659. During the session, the benchmark moved within a wide range, touching a low of 23,397.30 and a high of 23,690.90.

Among the Sensex constituents, Reliance Industries emerged as the biggest gainer, climbing 2.83%. Other stocks that supported the market included Bajaj Finserv, Trent, InterGlobe Aviation, Axis Bank and Mahindra & Mahindra.

On the other hand, Bharat Electronics, Tech Mahindra, Eternal and Tata Steel figured among the top losers for the day.