Benchmark Indices Make Sharp Recovery from Day’s Low; Nifty 50 Ends Above 22,500
Indian benchmark indices remained negative for the most part but showed signs of recovery in later on. The market sentiments majorly remained poor on account of Wall Street collapse and trade war tensions.
Benchmark Indices Make Sharp Recovery from Day’s Low; Nifty 50 Ends Above 22,500
Indian benchmark indices remained negative for the most part but showed signs of recovery later on. The market sentiments majorly remained poor on account of Wall Street collapse and trade war tensions.
Significant gains in midcaps and realty stocks helped the street recover from the day’s low. Investors also remained cautious ahead of the country's February inflation reports, which are set to be released on March 12.
BSE Sensex fell by 12.85 points, or 0.02% at 74,102.32, while NSE's NIFTY50 index ended at 22,507.50, rising 47.20 points, or 0.21%.
Close to 2,958 stocks traded on the NSE of which 1,850 declined and 1,041 stocks advanced. 67 stocks remained unchanged.
India VIX was up by 0.62% at 14.07 levels.
Among the sectors, Nifty Realty (3.63%), Nifty Oil and Gas (1.21%), Nifty Midsmall IT & Telecom (1.08%), Nifty Financial Services (0.77%) and Nifty Financial Services (0.64%) were the major gainers, while Nifty Private Bank (-1.38%), Nifty Bank (-0.75%), Nifty IT (-0.65%), Nifty Auto (-0.34%) and Nifty Media (-0.18%) were the top losers.
Shares of IndusInd Bank were down 25% during the intraday trade after it reported discrepancies in its derivative portfolio. Shares of Trent, BPCL, Sun Pharma, Bharat Electronics and ICICI Bank emerged as the biggest gainers moving up by 4.13%, while IndusInd Bank, Infosys, Bajaj Finserv, Mahindra and Mahindra (M&M) and Power Grid fell as low as 27.06% on the 50-share index.
