BSE Sensex Gains 322 Points To End Above 28,500 and Nifty Above 8,600 for 22 July 2015

The stock markets made a strong comeback on Wednesday and jumped by 323 points to regain the 28,500- level followed by value-buying in recent beaten-down stocks such as Sun Pharma, while a Rajya Sabha panel endorsing the GST bill also supported the rally. The NSE index gained 1.22 pe rcent, while the BSE index ended the day 1.15 per cent higher; their highest close since April 16. The market sentiments also got a boost with improved rains and declining global crude prices that boosted hopes of a rate cut by the Reserve Bank next month. Sun Pharma's shares on Wednesday recovered on value-buying and surged 3.35 per cent to Rs 833.05 after tumbling 15 per cent in Tuesday's trade. RIL topped the list of gainers by surging 4.26 per cent on buying by participants on hopes of a strong earnings to be released on Friday. Other gainers included M&M, Bajaj Auto, HDFC, HUL, Tata Steel, Wipro, Cipla, NTPC, HDFC Bank, GAIL, ONGC, Coal India, Maruti Suzuki and Hero MotoCorp.