Mumbai: Benchmark Sensex rebounded nearly 567 points and NSE Nifty regained 23,150 level on Wednesday following value buying in IT and banking shares and firm global trends. The 30-share BSE Sensex surged 566.63 points or 0.75 per cent to close at 76,404.99, driven by gains in Infosys, TCS and HDFC Bank. During the day, the benchmark surged 624.77 points or 0.82 per cent to hit an intraday high of 76,463.13. The broader NSE Nifty climbed 130.70 points or 0.57 per cent to settle at 23,155.35. In the intraday session, the Nifty rose 144.9 points or 0.63 per cent to 23,169.55 on the NSE.

“The benchmark indices rebounded amidst heightened volatility following better-than-expected results from a major private bank. The IT sector led gains, recovering from recent losses, while mid and small-cap stocks continued to underperform due to valuation concerns,” said Vinod Nair, head (research), Geojit Financial Services.

The market capitalisation of BSE-listed companies fell by Rs2,18,878.25 crore to Rs4,21,88,327.56 crore or $4.87 trillion.

Broader markets, however, closed lower. The BSE smallcap index slumped 1.56 per cent and midcap gauge declined 1.2 per cent. Among BSE sectoral indices, Focused IT rose the most by 2.19 per cent, followed by Information Technology by 1.88 per cent, Teck by 1.65 per cent, Bankex by 0.26 per cent and Financial Services by 0.17 per cent.