In a last-hour surge, the market rebounded, closing in the green, with Nifty finishing above the 19,800 mark. The financial sector underperformed, witnessing almost all Nifty Bank stocks ending in the red.

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The BSE Sensex gained 93 points to reach 66,023, while Nifty 50 added 28 points to settle at 19,812. However, Nifty Bank declined 240 points, closing at 43,450, while the Midcap Index rose by 144 points to 42,027, hitting a record high intra-day. Jubilant and Aurobindo emerged as the top midcap gainers.

Top gainers on the Nifty 50 were BPCL, Cipla, NTPC, Infosys and Power Grid Corporation, while losers were IndusInd Bank, Hindalco Industries, Kotak Mahindra Bank, Adani Enterprises and Adani Ports.

On the sectoral front Nifty bank, metal and realty closed down 0.5% each, while IT, capital goods, oil & gas, power, healthcare and FMCG up 0.3-1%.

Kotak Mahindra Bank and HDFC Bank contributed significantly to Nifty Bank's losses. Adani Group stocks faced a downward trend, closing lower with a fall of up to 1.7%.

BPCL secured its position as the top Nifty gainer ahead of a board meeting to discuss the FY24 interim dividend. On the other hand, CG Power reached a record high after filing an application with the IT Ministry to establish an OSAT unit.

Raymond extended its losses for the seventh consecutive day, wiping out ₹1,500 crore in market capitalization and experiencing a nearly 4% decline. Aurobindo Pharma saw a nearly 3% increase after its unit received US FDA approval for Efbemalenograstim Alfa injection.

IDBI Bank faced a 3% decline after the government canceled the bid to hire an asset valuer for divestment. Auto stocks witnessed a rise, with Tata Motors hitting a record high intra-day, and Bajaj Auto experiencing an increase of over 1%.

While Cipla and Sun Pharma reached record highs intra-day, the Nifty Pharma sector overall saw a 0.6% increase. However, Zomato faced a slight dip of over 1% after sources reported that the Directorate General of Goods and Services Tax Intelligence (DGGI) issued a GST demand notice worth ₹400 crore.