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For the third consecutive trading day, Indian stock markets saw significant purchasing in financial equities, particularly private banks and some oil and gas shares, on Wednesday.

Amid negative global signals as US-China trade tensions increased, the Sensex fell to a low of 76,544 after opening 262 points higher at 76,996. After that, it recovered, going up 556 points from the day’s low to a high of 77,110. It finished the session at 77,044, up 309 points, or 0.4%.

This means that during the last three trading sessions, the Sensex has increased by 3,197 points.

The Nifty moved similarly as well. Before rising to a high of 23,452, it fell as low as 23,273. The index gained 104.60 points, or 0.45%, to close off the day at 23,433, close to its peak. The Nifty has increased 1,038 points during the last three days.

Asian Paints, Trent, ONGC, Axis Bank, and IndusInd Bank were among the top Nifty gainers.

However, the biggest losses were Tata Motors, Bajaj Finance, and Maruti Suzuki. Every index, with the exception of auto, concluded the day in the green sector.

The top performers, with increases of 1-2 cent, were media, PSU banks, and oil and gas equities. The BSE Midcap and Smallcap indexes also increased by 0.5%, indicating that the overall market was strong as well.

Investor mood was impacted by US President Donald Trump’s threat to slap a tax of up to 245% on Chinese goods, which continued to put pressure on equity markets in other Asian nations.

Kospi and Nikkei were down more than 1%, while the Hang Seng and Taiwan markets fell by about 2% apiece.

For the second straight session, the index has closed above the 100-EMA on the daily chart. Support is now around 23,300, and as long as it stays above this level, a bullish outlook is probably going to prevail, according to Rupak De of LKP Securities.

Supported by foreign investment inflows, a declining US dollar, and positive high-frequency economic data, the rupee has strengthened for the third day in a row, according to Dilip Parmar of HDFC Securities. The USD-INR is expected to be negative in the near future, with resistance around 86.05. The support level is at 85.40.