Benchmark Indian indices opened on Wednesday with the Nifty around 24,300 trailing global indices on a positive note. The Sensex rose 187.34 points, or 0.24 percent, to 79,663.97, while the Nifty gained 40.50 points, or 0.17 percent, to 24,253.80. Of the traded stocks, 1,941 advanced, 437 declined, and 110 remained unchanged.

Among the top gainers on the BSE Sensex were HCL Tech, Infosys, Sun Pharma, Bajaj Finserv and Tech Mahindra. Conversely, top losers included Titan, Tata Steel, HUL, JSW Steel and Kotak Mahindra Bank.

“Bulls are working to defend the 24,000 level in the Nifty amid continued jitters and a strong rise in bank hikes has raised hopes for further recovery. However, upside potential appears limited, with a significant resistance zone around 24,400-24,500. dependent on global cues, with all eyes on the US presidential election. Traders are advised to maintain a covered approach and keep position sizes in check until we see some stability,” said Ajit Mishra, SVP Research at Religare Broking.

The rupee fell 14 paise to an all-time low of 84.23 against the US dollar in early trade on Wednesday. This follows the rupee’s recovery from an all-time low on Tuesday when it closed 1 paise higher at 84.10 (provisional) against the US dollar. The rally was fueled by a rebound in domestic markets and what is believed to be intervention by the Reserve Bank of India.

In the previous trading session on Tuesday, the domestic benchmarks recorded a strong recovery, reversing earlier losses to close higher by the end of the session. The Nifty crossed the 24,100 mark, while the Sensex rebounded by a gain of over 1,100 points from its intraday low, led by gains in banking stocks and metals. The Nifty fell as much as 0.5% to an intraday low of 23,842.75 before touching a high of 24,229.05, up 1.6% from its low. It finally closed at 24,198.30, up 0.85% on the day.

The 30-share Sensex ended at 79,476.63, gaining 0.88%. During the session, the index rose more than 1,200 points from a low to a high of 79,523.13.