Mkts rebound from poll jitters; up over 3% as NDA partners move to form govt

Rebounding from their worst single-day slide in four years, benchmark stock indices Sensex and Nifty soared over 3 per cent each on heavy value buying by investors after NDA alliance partners started talks on government formation.

The 30-share BSE Sensex jumped 2,303.19 points or 3.20 per cent to settle at 74,382.24 on value buying in banking, auto and oil shares. All Sensex shares closed in the green. During the day, it zoomed 2,455.77 points or 3.40 per cent to 74,534.82.

The NSE Nifty climbed 735.85 points or 3.36 per cent to 22,620.35 with all its constituents ending with gains. During the day, the benchmark soared 785.9 points or 3.59 per cent to 22,670.40.

Heavy buying in HDFC Bank, ICICI Bank and Reliance Industries helped benchmark indices log sharp gains. Investors became richer by Rs 13.22 lakh crore on Wednesday with markets making a strong comeback.