Sensex, Nifty Recover All Of Friday’s Drop; Record High For Midcap Index
Third Day Of Gains
Indian equities recovered all of Friday's biggest single-day drop in nine months with gains over the last three trading sessions.
The S&P BSE Sensex ended 2.3% higher at 51,444 while the NSE Nifty 50 also gained 2.2% to end at 15,245. 43 out of the 50 index constituents ended with gains while Reliance Industries was the top contributor.
Today's gains meant that the Sensex wiped out all of Friday's 1,939-point drop while the Nifty not only recovered but also surpassed Friday's 568-point fall over the last three trading sessions.
Among the sectoral indices, gains were seen across the board. The Nifty Bank index gained 2.7% or 950 points to end above the mark of 36,000. The PSU Bank index also saw gains of 3% in today's session.
The Nifty Metal index was the top sectoral gainer in today's session, ending 3.3% higher and at a three-year high.
The Nifty I.T. index continued to extend Tuesday's gains, ending 1.9% higher while the Pharma index ended with gains of 1%.
The Nifty Auto index, which was the top sectoral gainer on Tuesday, ended as the only sectoral laggard, declining 0.7% in today's session.
Broader markets too ended higher but the gains were modest as compared to the benchmarks. The Nifty Midcap index ended 1.7% higher and at a record high, while the Smallcap index gained 1%.
The India Volatility Index too fell for the third straight day, declining another 6.4% to end at 22.09.
1,195 stocks on the NSE ended with gains while 685 stocks bucked the trend to end lower.