Banks Save The Day For Sensex, Nifty As RIL Drops 8.5%
A screen displays a financial data graph inside the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, Germany. (Photographer: Alex Kraus/Bloomberg)

Banks Save The Day For Sensex, Nifty As RIL Drops 8.5%

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Closing Bell: A Volatile Session

Indian equity markets ended a volatile trading session little changed, after banking stocks managed to offset the biggest single-day fall in Reliance Industries Ltd. in over seven months.

The S&P BSE Sensex ended 0.4% higher at 39,757 while the NSE Nifty 50 index ended 10 points higher at 11,653.

The Nifty Bank index gained nearly 1,000 points in today's session, ending 4.1% higher at 24,892. All the constituents on the index, except IDFC First Bank, ended with gains. Four out of the top five Nifty gainers, were financial stocks. IndusInd Bank, ICICI Bank and Axis Bank gained 6% each while HDFC ended over 5% higher, post its second quarter earnings. The PSU Bank index also ended with gains of 3.4%.

The collective gains in banking stocks were able to offset the fall in Reliance Industries. The index heavyweight fell 8.7%, to end at its lowest level in three months.

Among other sectoral indices, I.T. and Pharma stocks were the top laggards. The Nifty I.T. index ended 0.9% lower while the Pharma index fell 0.6%.

Broader markets were mixed in today's session. The Nifty Midcap index managed to salvage gains of 0.4% while the Smallcap index ended 1.5% lower.

India Volatility Index ended off the session's high but 1.8% higher at 25.2.

1,126 stocks on the NSE ended with gains while 693 posted losses.

Nifty Bank's Tussel Versus Reliance Industries

Banks Save The Day For Sensex, Nifty As RIL Drops 8.5%

What Worked For Broking Firms In Q2

Markets At 2:10 P.M.

  • Benchmark indices continue to fluctuate between gains and losses
  • Nifty down 14 points at 11,628
  • Sensex unchanged at 39,609
  • Nifty Bank up 3.5% at 24,720
  • Nifty Midcap index up 0.2%
  • Nifty Smallcap index down 1.3%
  • India Volatility Index up 3.2% to 25.54
  • Nifty Realty and Nifty PSU Bank among top sectoral gainers; up 3.5% each
  • Nifty Pharma is the top sectoral laggard; down 1%
  • Nifty I.T. and Nifty Auto decline 0.7% each
  • IndusInd Bank and ICICI Bank remain the top Nifty gainers; up over 6.5% each
  • Reliance Industries remains the top sectoral laggard; down 7.5%
  • 1,103 stocks on the NSE are trading with losses while 700 are gaining

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Markets At Noon

  • Benchmark indices pare losses; trading little changed
  • Nifty down 0.2% at 11,621
  • Sensex down 34 points at 39,573
  • Nifty Bank up 2.6% to 24,533
  • Nifty Midcap index unchanged
  • Nifty Smallcap index down 0.9%
  • India Volatility Index up 2.9% to 25.47
  • Nifty Realty Index is the top sectoral gainer; up 3.2%
  • Nifty PSU Bank extends gains; up 3%
  • Nifty I.T. and Nifty Pharma are the top sectoral laggards; down 0.75% each
  • IndusInd Bank remains the top Nifty gainer; up 6.4%
  • Reliance Industries remains the top Nifty laggard; down 5.5%
  • 1,011 stocks on the NSE are trading with loses while 731 are gaining
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