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Sensex gains over 400 points, Nifty hits 10,450 amid rupee recovery, DII buying

Top Sensex gainers were Maruti (4.45%), Axis Bank (3.47%) and Vedanta Ltd (3.28%).

While the Sensex closed 174 points or 0.51% lower to 34,299, the Nifty fell 47 points or 0.45% to 10,301.
Foreign investors have withdrawn Rs 9,300 crore from the Indian capital market in the last four trading sessions on rupee crash and rise in crude oil prices.
The bears continue to tighten their grip on the markets, and the BSE Sensex and NSE Nifty both opened with heavy losses this morning.
Midcaps stocks led to the fall with the BSE midcap index closing 164 points or 1.11% lower to 14,642 level.
Brent crude prices have been hovering around $80 for sometime now, raising oil costs for India, which relies more than 80 per cent on imports to meet its oil needs.
Smallcaps and Midcaps remained the worst hit in the last few days.
28 out of the 30 companies on BSE 30 displayed negative growth in share price during the period. Just two companies showed a growth in share price.
The equity market outlook has taken a beating given degradation in the quality of debt, redemption and heightened risk averseness by investors.
The Sensex opened on a strong note at 36,274.25 but soon fell on concerns surrounding the NBFC space and the commercial paper market.
Brent crude oil prices were trading at over four-year highs and inched closer to $82 per barrel ahead of impending US sanctions on Iran.