Delhi. The Indian stock market saw a strong rally on Wednesday, May 6. The BSE Sensex jumped more than 300 points to trade at 77,350, while the Nifty 50 also rose more than 100 points to around 24,150. This rally was primarily driven by strong buying in the banking and auto sectors.

Of the 30 Sensex stocks, 24 advanced, while only 6 declined. Stocks like InterGlobe Aviation (IndiGo), Mahindra & Mahindra, Bajaj Finance, and Trent Limited saw gains of up to 3%.

Among sectoral indices, public sector banking stocks saw the most buying, rising nearly 2%. Auto, financial services, IT, metals, and private banking sectors also gained up to 1%.

Top Nifty gainers included IndiGo, Shriram Finance and Bajaj Finserv, while stocks like Larsen & Toubro, Hindustan Unilever and Reliance Industries declined marginally.

Global markets also showed positive signs. Asian markets, including the Kospi, Nikkei, and Hang Seng, closed higher, while US markets—the Dow Jones Industrial Average, Nasdaq, and S&P 500—also closed higher on May 5th.

However, foreign investors (FIIs) have sold shares worth Rs 8,834 crore in the last 7 days, while domestic investors (DIIs) have continued buying.

This rise in the market today after the fall on Tuesday has strengthened the confidence of investors, although the future direction will depend on global signals and investor activities.