The key Indian equity indices on Wednesday recovered further on back of healthy global cues and sustained capital outflows. The benchmark Sensex gained 321.86 points (1.02 per cent) to close at 31,770.89 while the NSE's Nifty zoomed by 103.15 points (1.05 per cent) to end at 9,897.30.
Sustained capital outflows and higher retail inflation mainly influenced the trading sentiment. Consumer Price Index surged to 2.36 per cent, rising for the first time in three months on increased foods prices. Healthy buying was observed in fast moving consumer goods (FMCG), metal and auto sectors, while selling pressure was seen in capital goods.
Overseas, most Asian markets were trading higher as geo-political tensions in the region continued to recede.
In the US, the main benchmarks ended little changed overnight amid better-than-expected retail sales data.
On Monday, stocks rose for the first time in six days, with the benchmark Sensex rebounding over 235 points to end at 31,449. The Sensex settled up 235.44 points, or 0.75 per cent, at 31,449.03.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,638.83 crore on Monday, as per provisional data released, while the Domestic institutional investors (DIIs) bought shares worth Rs 1,619.17 crores.
