Sensex, Nifty Snap Five-Day Losing Streak; Metals, Oil PSUs Shine
A Volatile Day Of Trade
Indian equities ended off the highest point of the day but managed to snap a five-day losing streak in what turned out to be a volatile trading session.
The S&P BSE Sensex just managed to end in the green, closing with gains of 7 points at 49,751. The NSE Nifty 50 index ended 30 points higher at 14,707. The Sensex and Nifty fell nearly 600 and 150 points from their respective day's high.
Among the sectoral indices, Metal stocks continued to shine with the Nifty Metal index ending 3.9% higher. The 15-stock gauge ended at the highest level since April 2018.
Realty stocks were the other outperformers in today's session. The Nifty Realty index ended with gains of 2.7%. Other outperformers today were oil PSUs like ONGC, GAIL, along with the Oil Marketing Companies.
Most other sectoral indices ended little changed. The Nifty Bank also traded in a 700 point range, eventually ending 0.4% lower.
Broader markets outperformed the benchmarks in today's session. The Nifty Midcap index ended 1% higher while the Smallcap index gained a similar quantum to end with gains of 0.9%.
After a 15% surge on Monday, the India Volatility Index ended 1% lower at 25.23.
1,142 stocks on the NSE ended with gains while 756 stocks posted losses.