Sensex, Nifty Erase Most Of Tuesday’s Losses; End With Gains
Index graphs run across a computer screen on the investment floor at Aviva Investors, in London, U.K. (Photographer: Jason Alden/Bloomberg News)

Sensex, Nifty Erase Most Of Tuesday’s Losses; End With Gains

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Markets At Close

  • Benchmark indices recover from day's low; erase most of Tuesday's losses
  • Nifty ends 0.7% higher at 10,116
  • Sensex ends 0.86% higher at 34,247
  • Nifty Bank ends 1.8% higher at 21,100
  • Nifty Midcap Index ends 1.2% higher
  • Nifty Smallcap Index ends 0.5% higher
  • India Volatility Index ends 2.81% lower at 29.35
  • Nifty PSU Bank Index ends as top sectoral gainer; up 3.5%
  • Nifty Realty Index ends with gains of 2%
  • Nifty Auto ends as the top sectoral laggard; down 1.1%
  • Nifty Metal (down 0.6%) and Nifty Media (down 0.3%) among other sectoral laggards
  • IndusInd Bank ends as the top Nifty gainer; up 10%
  • Hero MotoCorp ends as the top Nifty laggard; down 3.5%
  • 1,120 stocks on the NSE end with gains while 707 end with losses

Contributors To Nifty's Surge

Closing Bell: A Last Minute Reversal

Indian equity markets erased most of Tuesday's declines, ending with gains after a sharp surge in the last few minutes of the trading day.

The S&P BSE Sensex ended 0.86% higher at 34,247 but remained 100 points off the day's high. The NSE Nifty 50 however, ended with gains of 0.7% at 10,116, 30 points off the day's high.

The PSU Banking index was the outperformer among the sectoral indices, ending with gains of 3.5%. The Nifty Realty and the Nifty Bank ended with gains of close to 2%.

Among the underperforming sectors were Nifty Auto (down 1.1%), Nifty Media (down 0.3%) and Nifty Metal (down 0.6%).

Market breadth remained in favour of the advances with 1,120 stocks on the NSE ending with gains while 707 ended with losses.

Stock Update: NBCC India

  • Second best performer on the BSE Midcap Index
  • Gains as much as 16.7% to Rs 25.8
  • Trades at the highest level in three months
  • Has gained in nine out of the last 12 trading sessions
  • Declined only once in the last 12 trading sessions (Unchanged on May 28 and June 4)
  • Gains of 45.7% in the last 12 trading sessions
  • Today's volumes are 5.7 times higher than its 30-day average
  • Prices are trading higher than its 100-Day Moving Average of Rs 23.9
  • Stock trades in overbought territory with Relative Strength Index (RSI) of 74
  • 2 out of the 8 analysts tracking the stock have a buy recommendation; 1 sell call
  • Return potential of the stock as per Bloomberg data is 13.9%

Today's Outperformer: Nifty PSU Bank Index

Sensex, Nifty Erase Most Of Tuesday’s Losses; End With Gains

Goa Carbon's Business Update For May

  • The company's Bilaspur plant has produced 2,419.7 MT of calcined petroleum coke
  • Goa plant has produced 6,464.7 MT of calcined petroleum coke
  • Paradeep plant has produced 10,361 MT of calcined petroleum coke

Shares gained as much as 10% to Rs 245.45, post the announcement. The stock has gained in four out of the last five trading sessions.

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