Markets back in green amid volatile trade
Indian stock markets bounced back into green after a day’s pause as buying activity re-emerged amid a firming trend overseas.
Sensex rises by 95 points while Nifty adds 24 points
Mumbai: Indian stock markets bounced back into green after a day’s pause as buying activity re-emerged amid a firming trend overseas. Upsurge in FMCG, healthcare and oil & gas stocks drove the markets up as the government’s announcement of a new pricing formula for undeveloped gas discoveries in difficult areas buoyed the sentiment.
The benchmark Sensex after opening lower at 24,620.39, slipped further on profit-booking to hit a low of 24,552.26. But it staged a strong comeback and closed higher by 94.65 points or 0.38 per cent at 24,717.99. On Thursday, the index had dropped for the first time in seven sessions as investors booked profits in recent gainers.
The NSE Nifty recaptured the 7,500-mark and ended at 7,510.20, up 24.05 points or 0.32 per cent. Intra-day, it touched a high and a low of 7,543.95 and 7,460.60, respectively. The recovery in Sensex was supported by gains in Lupin, up 2.01 per cent, while Hindsutan Unilever surged 1.88 per cent and Adani Ports perked up 1.81 per cent.
Tata Motors, ITC, Dr Reddy’s, Bharti Airtel, HDFC Bank, Wipro, Bajaj Auto, TCS, Asian Paints, Maruti Suzuki and Sun Pharma also advanced. Stocks of Reliance Industries ended 0.36 per cent higher at Rs. 1,015.65 after touching a high of Rs. 1,029.50. From the 30-share Sensex kitty, 17 ended higher, while 13 led by Coal India, ICICI Bank, BHEL, Tata Steel, NTPC, GAIL, M&M, Infosys, ONGC, Cipla, Axis Bank and SBI slipped.
Meanwhile, Rajya Sabha passed the real estate Bill aimed at providing the much-needed relief to home buyers. Among realty stocks, DLF Ltd and DB Realty emerged major gainers and surged by up to 2.58 per cent. Sectorwise, BSE FMCG index gained the most, rising 1.24 per cent followed by healthcare (0.53 pc), oil&gas (0.50 pc), auto (0.42 pc), capital goods (0.25 pc) and teck (0.03 pc).
In broader markets, the BSE mid-cap rose 0.08 per cent while small-cap ended 0.16 per cent down. A firm trend was seen in Asia while Europe also opened higher after central bank unveiled fresh stimulus measures.