Sensex rebounds over 500 points at Wednesday’s open

Indian benchmark indices rebounded at Wednesday’s open after a sharp decline in the previous session, with the Sensex rising more than 500 points and the Nifty moving above 23,000 in early trade. The gains followed Tuesday’s market closure for the Dussehra holiday, leaving investors to assess earnings, global conditions and developments in India-US trade talks. The Sensex opened at 74,337.93 on October 21 and stood at 74,488.60 at 9:20 a.m., up 0.86%. The Nifty opened at 23,016 and was at 23,066.55 at 9:20 a.m., a gain of 0.78%. Those readings describe the opening and early trading, not the indices’ closing levels for Wednesday. All 16 major sectoral indices were higher in early trade, according to a market report. The rise came after both benchmarks fell on Monday, October 19. The Sensex closed at 73,852.90, down 876.37 points, or 1.17%, while the Nifty ended at 22,888.95, a loss of 257.20 points, or 1.11%. Selling in private-sector banks and concerns around quarterly results and crude oil prices were among the factors cited for the decline. Geojit Investments research head Vinod Nair attributed Monday’s pressure to weak global cues and selling in private banks and...