stock market today: Indian benchmark equity index, bse sensex And nifty 50It bounced back after opening in the red on Wednesday. indian shares Trade was volatile on Wednesday led by IT, metal and energy stocks. The 30-share BSE Sensex rose 500 points to break its two-day losing streak.
At 11:09 am, BSE Sensex was trading at 70,776.73, up 400 points or 0.58%. Nifty50 was up 130 points or 0.61% at 21,369.05.
In early trade, Axis Bank was the top loser in the Sensex pack, falling over 4%. Asian Paints, Bharti Airtel, HDFC Bank and Maruti also opened with losses, while Infosys, HCL Tech, ABI and Tech Mahindra opened with gains, ET reported.
After significant decline in the previous session, shares of Zee Entertainment rose as much as 8% amid concerns about the expiry of the merger deal with Sony and its subsequent legal and regulatory implications.

AU Small Finance Bank witnessed a rise of 2% after the Competition Commission of India (CCI) approved the merger of Fincare Small Finance Bank with the bank.
Nifty Media, Metal, Pharma and PSU Bank sectors witnessed gains of over 1%, while Auto and Realty sectors fell up to 0.8%. In the broader market, Nifty Midcap100 rose 0.86%, while Nifty Smallcap100 rose 1%.
According to VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, some news and rumors led to selling in the market. There were reports of SEBI tightening the ultimate beneficiary norms for FPIs from February 1, which may trigger some FPI selling. Vijayakumar also told that there is a rumor of the Finance Minister making changes in LTCG tax during the budget.
Aditya Gaggar, Director, Progressive Shares, highlighted that the index has formed an Advanced Harmonic Bullish Cypher pattern with bullish divergence in the RSI, suggesting a possible reversal. He said stability at higher levels will be important with targets at 21,550 and 21,770 and immediate support at 20,950.

In global markets, Asian shares rose on hopes that Chinese authorities will support its stock markets. Chinese shares were mixed, with the blue chip index lower and the Shanghai Composite higher. Hong Kong’s Hang Seng index saw gains but remained down throughout the month.
Foreign institutional investors sold Indian shares worth Rs 3,115 crore on Tuesday, while domestic institutional investors bought shares worth Rs 214 crore.