Sensex recovers 162 pts; capitalization gains from car stocks
Mumbai, Sep 4 () One day after the massive fall, the BSE benchmark Sensex recovered on Wednesday by almost 162 points when the purchase mainly came from metal counters and banks, but earnings were limited by shares Automotive
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 was 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.
The main winners of the Sensex package included Bharti Airtel, SBI, Tata Steel, Vedanta, NTPC, HDFC Bank, HCL Tech, ONGC, ICICI Bank and Lu0026T, which increased to 2.97 percent.
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 sank more than 225 points after investors surrendered to panic sales amid sustained concerns about 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 quote at 72.05 per US dollar. The Brent crude oil world benchmark index rose 0.39 percent to 58.48 per barrel (intraday). ANS MKJ