Sensex, Nifty Recover One-Third Of Monday’s Fall; I.T. Outperforms
Indian equity markets managed to recover a third of their worst fall in seven months that took place on Monday.
The S&P BSE Sensex ended 1% higher and above the mark of 46,000 at 46,006. The index recovered 900 points from the lowest point of the day, which stood at 45,112.
The NSE Nifty 50 index also gained 1% to end at 13,466. The index recovered nearly 300 points from the day's low of 13,192.
Both benchmark indices had a very volatile trading day where they oscillated in a broad trading range.
Among the sectoral indices, the I.T. and Pharma stocks outperformed in today's session. The Nifty I.T. index ended 3.4% higher, surging to a record high in the process. Three out of the top five Nifty gainers were I.T. stocks.
Drugmakers were the other major outperformers in today's session with the Nifty Pharma index ending with gains of 2.2%.
The Nifty Metal index gained 1.4% while Nifty Auto and the PSU Bank index ended with gains of close to 1% after recovering from their respective day's low.
Broader markets moved largely in-line with the benchmarks. The Midcap index ended 0.85% higher while the Smallcap index ended with gains of 0.8%.
India Volatility Index fell 5.2% in today's session to close at 22.
1,068 stocks on the NSE ended with gains while 818 reported losses.