Stock market update: Markets rebound in early trade; Sensex jumps 1,046 points

Equity benchmark indices Sensex and Nifty bounced back sharply in early trade on Wednesday after three days of massive decline intandem with a rally in global peersThe 30share BSE Sensex jumped 104613 points to 7963920 in early trade The NSE Nifty surged 3139 points to 2430645Among the 30 Sensex firms Maruti Infosys UltraTech Cement Adani Ports JSW Steel and HCL Technologies were the biggest gainersAsian Paints Kotak Mahindra Bank Bharti Airtel and Titan were the laggardsAsian markets were also trading in the positive territory where Seoul Tokyo Shanghai and Hong Kong were quoting significantly higherThe US markets ended higher on TuesdayAfter the twin jolts from US recession fears and the unwinding of the Yen carry trade stock markets globally are slowly limping back to stability Even though FIIs were big sellers in India in the cash market during the last three days their selling is being matched by DII Domestic Institutional Investors buying This countervailing investment by DIIs can impart resilience to the market said V K Vijayakumar Chief Investment Strategist Geojit Financial Services in a stock market updateVolatility means moves will be sharp and we still recommend the avoidance of trades For investors it is as good a time as any to take longterm exposure and benefit from the multidecade India Growth Story Just dont try to pick market bottoms or market tops No one gets that right consistently and more importantly profitably Ajay Bagga Banking and Market Expert told ANI on stock market updateAsian markets also rallied after the Bank of Japan stepped in to control market turmoil deciding not to hike interest rates The Bank of Japan in a post on X shared the comments of the Deputy Governor of the Bank of Japan Shinichi Uchida who said As for the future conduct of monetary policy in a nutshell I believe that the Bank needs to maintain monetary easing with the current policy interest rate for the time being with developments in financial and capital markets at home and abroad being extremely volatileForeign Institutional Investors FIIs offloaded equities worth Rs 353124 crore on Tuesday according to exchange dataDIIs bought equities worth Rs 335745 crore on TuesdayGlobal oil benchmark Brent crude climbed 014 per cent to USD 7659 a barrelFalling for the third straight day on Tuesday the BSE benchmark settled at 7859307 down 16633 points or 021 per cent Similarly the Nifty declined 6305 points or 026 per cent to settle below the 24000 level at 2399255