Sensex, Nifty Recoup Losses To Close Higher; RIL, NTPC Gain: Market Wrap
The S&P BSE Sensex was up 122.09 points or 0.17% at 71,437.19, while the NSE Nifty 50 ended 34.45 points, or 0.16% higher at 21,453.10.
India's benchmark indices recovered from intraday loss and ended higher tracking gains in Reliance Industries Ltd., NTPC Ltd., and ITC Ltd.
The S&P BSE Sensex was up 122.09 points or 0.17% at 71,437.19, while the NSE Nifty 50 ended 34.45 points, or 0.16% higher at 21,453.10.
Intraday, the Nifty 50 declined 0.38% or 80.90 points to 21,337.75. While, the BSE Sensex declined 0.34%, or 243.11 points to 71,071.89.
"Extreme volatility was seen on both sides, whereas in the opening trade a strong recovery was witnessed under the leadership of heavyweight Reliance. In the mid-session, PSU Banks and Pharma counters joined the party and pushed the index further higher to register a fresh high of 21,505.05," said Aditya Gaggar, director of Progressive Shares Brokers Pvt.
"However, towards the end of the day, the index pared off some of its gains to settle at 21,453.10, with gains of 34.45 points. On the sectoral front, energy was up by 1.58% and ended the session as a top performer followed by FMCG (+1.41%). While, IT and Auto sectors witnessed a profit booking pressure. Underperformance was observed by the broader markets as mid and smallcaps corrected by 0.38% and 0.12%, respectively," Gaggar said.
Coal India Ltd., ITC Ltd., Nestle India Ltd., NTPC Ltd. and Reliance Industries Ltd. were positively contributing to changes in the Nifty.
While, HDFC Bank Ltd., HCL Technologies Ltd., ICICI Bank Ltd., Infosys Ltd. and Tata Consultancy Services Ltd. were weighing on the index.
Eight of the 14 sectors compiled by NSE advanced, with Nifty Energy gaining 1.58%.
Five sectors declined, with Nifty IT falling 0.95%.
The broader markets ended mixed; the S&P BSE MidCap was down 0.31% and S&P BSE SmallCap was 0.1% higher.
Eleven of the 20 sectors compiled by BSE declined. While, nine sectors advanced, with S&P BSE Energy rising the most.
The market breadth was skewed in the favour of buyers. About 1,901 stocks rose, 1,860 declined, while 143 remained unchanged on the BSE.
