Sensex, Nifty Extend Rebound Even As Second Wave Keeps Investors Edgy
Closing Bell: Sensex, Nifty End Higher Led By Private Lenders, Pharma & Metals
Indian equity benchmarks extended their rebound from a two-month low even as investors remained nervous as states initiated stricter curbs amid a record-breaking Covid-19 second wave.
The S&P BSE Sensex rose 0.5% to 48,803 while the NSE Nifty 50 Index climbed 0.5% as well to 14,581. Both the benchmarks fluctuated in a narrow range for most of the session.
Private banks, along with pharma, IT and metals, led the rebound, while PSU banks and auto stocks were the top laggards. The broader markets underperformed their larger peers. The Nifty Midcap index and the Smallcap index ended trade with losses.
The market breadth was skewed in favour of the bears. Around 1,117 stocks declined while 761 advanced.
The Rupee's Journey From Best To Worse
Balrampur Chini At Record High
- Top gainer on the Nifty Smallcap index
- Gains as much as 14.5% to Rs 272
- Biggest single-day gain since November 18, 2015
- Up for the second straight day
- Today's volumes are almost six times its 20-day average
- One-month implied volatility is 89%
- Stock in overbought territory with Relative Strength Index (RSI) at 74
- Six out of the seven analysts tracking the stock have a buy recommendation
- The stock trades 11% higher than its 12-month Bloomberg consensus price target of Rs 235.6