Sensex recovers 162 points; capitalization gains from car stocks
MUMBAI: One day after the massive fall, the BSE benchmark sensex On Wednesday, it recovered at almost 162 points due to the appearance of purchases mainly in metal and bank counters, but profits were limited by the stock of cars.
Similarly, the NSE Nifty indicator rose 47 points to be set above the 10,800 key mark.
After swinging 367 points in a highly volatile session, the 30-share index ended 161.83 points, or 0.44 percent, higher at 36,724.74. It reached a maximum intraday of 36,776.31 and a minimum of 36,409.54.
The broader Nifty after opening on a flat note in the morning, traded in the range of 10,858.75 and 10,746.35 during the session. Finally the day ended with 46.75 points, or 0.43 percent, earnings at 10,844.65.
Top gainers in the sensex pack included Bharti Airtel, SBI, Tata Steel, Vedanta, NTPC, HDFC Bank, HCL Tech, ONGC, ICICI Bank and Lu0026T, which rose up to 2.97 per cent.
On the other hand, Maruti was the biggest laggard, falling 3.64 percent after the company announced a two-day suspension of its manufacturing operations at its Gurugram and Manesar plants in Haryana.
Sun Pharma, Tata Motors, Asian Paints, IndusInd Bank, Mu0026M, Bajaj Auto and RIL also fell to 2.97 percent.
On Tuesday, the BSE sensex dropped 770 points and the NSE Nifty dived over 225 points after investors indulged in panick selloffs amid sustained worries over the country's economic health.
Reference rates also saw their biggest drop during the day in almost 11 months.
In Wednesday's recovery in Indian equities, analysts said the domestic market recovered the follow-up of positive global signals.
Hang Seng recovered 3.90 percent of reports that Carrie Lam, the leader in favor of China in Hong Kong, would formally withdraw the much-disregarded extradition bill on Wednesday that triggered the protest crisis of nearly three months that virtually paralyzed the city.
The Shanghai, Nikkei and Kospi composite index also finished at 1.16 percent more.
The exchanges in Europe were also negotiated with significant gains in their respective first sessions.
The Indian rupee appreciated 34 countries (intraday) to trade at 72.05 per US dollar.
The Brent crude oil world benchmark index rose 0.39 percent to 58.48 per barrel (intraday).