Sensex, Nifty End Higher For Second Day Led By Recovery In Banking Stocks

Indian equity markets ended higher for the second straight day, led by a swift recovery in the banking index towards the final minutes of trade.

The S&P BSE Sensex ended 0.5% higher at 39,086 while the NSE Nifty 05 index ended 0.56% higher at 11,535. Both indices traded in a narrow range throughout the session.

Among sectoral indices, the Nifty bank recovered 400 points from the lowest point of the day to end 0.3% higher. The index was trading with losses of over 1% at one point.

Among the gainers, the Media index was the outperformer, ending 3.5% higher, led by gains in Zee Entertainment.

The Nifty I.T. and Nifty Metal indices ended with gains of over 1.5% each, with all constituents of the I.T. index advancing in today's session.

PSU Bank index too recovered from the lowest point of the day to end 0.2% lower. The index was down close to 2% during the day.

Broader markets outperformed in today's session. The midcap and smallcap index ended with gains of over 1.5% each.

The India Volatlity Index ended 3.5% lower at 21.03.

Market breadth remained in favour of the gainers. 1,210 stocks on the NSE ended with gains while 616 declined.

Benchmark indices in Europe opened higher and are poised to snap their longest losing streak since June.

The Stoxx 600 index has opened 0.6% higher with all sectors opening in the green. Miners and retail were the top gainers while F&B along with insurance stocks dragged.

Asian markets have ended mixed while futures on the Dow Jones are trading higher by over 110 points.

Brent crude is trading 1% higher at $46 per barrel while Gold is 0.5% lower at $1,960.5/Oz.

Let's take a look at how benchmark indices across Europe have opened:

• Euro Stoxx 50 up 0.5% at 3,294
• DAX up 0.7% at 13,067
• CAC up 0.44% at 4,959
• FTSE 100 up 0.6% at 5,894
• IBEX 35 up 0.3% at 6,983