Equity indices rebounded 1% on Wednesday, with the 30-share BSE Sensex surging 689 points to settle at 71,060 and the broader Nifty closing 215 points at 21,453. Stocks that were in focus included SBI Life, which rose 2.68%, Karnataka Bank, which fell 7.8%, and Tata Elxsi, whose shares declined 5.01%.
FPIs sell $1.6 billion of Indian stocks in five trading sessions
After a brief period of optimism, foreign investors are retreating from Indian stocks as rising crude oil prices and escalating global bond yields shift market