Sensex, Nifty Gain For Fourth Day Led By Recovery In Banks, Metals
Closing Bell: A Volatile Session
Indian equity markets recovered from a volatile 45 minutes of trade to end higher for the fourth straight day.
The S&P BSE Sensex ended 0.4% higher at 40,707 while the NSE Nifty 50 gained 0.3% to end at 11,937. The index had briefly scaled the 12,000 mark in early trading.
The final two hours were a roller-coaster for the Nifty Bank index. The index fell as much as 700 points from the day's high, only to recover in the final minutes, and end with gains of 330 points or 1.3%.
The Realty index continued to outperform for the fourth day in a row. The index ended with gains of 4.4%. The Nifty Metal index was the other big gainer in today's session, ending 2.2% higher.
Among the laggards, it was the FMCG index, which fell 1% in today's session, courtesy losses seen in Colgate-Palmolive and Britannia. In fact, Britannia ended as the top laggard on the Nifty 50 index for the second straight session, declining 4.3%.
Broader markets, which were outperforming the benchmarks at one point, bore the brunt of the volatility to end little changed. The Nifty Midcap index ended 0.2% higher while the Smallcap index ended 0.1% lower.
Market breadth recovered to end in favour of the gainers. 949 stocks on the NSE ended with gains while 848 posted losses.