The benchmark equity indices -- Sensex and Nifty --- rebounded in the last hour of trade after a volatile session helped by buying in IT and banking stocks.
The benchmark equity indices — Sensex and Nifty — rebounded in the last hour of trade after a volatile session helped by buying in IT and banking stocks. Sensex rallied to 40,286.48, up 170.42 points, 0.42 per cent, while Nifty closed the intraday trade at 11,872.10, up 31.65, 0.27 per cent. The last-hour recovery helped the market close near the day’s high. While the Nifty ended up 69 points, the Sensex closed 260 points from day’s low. Nifty Bank outperformed the frontline indices, ended up 412 points from the intraday lows. The midcap index closed in-line with benchmarks, up 144 points from lows. Bharti Airtel and Bharti Infratel were among the top Nifty losers on AGR payment issue, ICICI Bank, HDFC Bank and Infosys were the major gainers. Negative global cues and weak macro numbers kept investors on edge, the analysts said.
Wholesale prices based inflation eased further to 0.16 per cent in October, as against 0.33 per cent in September due to subdued prices of non-food articles and fall in the prices of manufactured items, government data showed on Thursday. The retail price based consumer inflation spiked to 16-month high of 4.62 per cent in October on costlier food items, reducing the headroom for a rate cut by the RBI in its monetary policy due next month.
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“Thursday’s session was purely dominated with weekly options expiry and volatility also remained ingrained in the session on the expected lines. The markets witnessed short-covering from lower levels once again and defended the important support level of 11800. Going ahead, we will still continue to see the markets consolidating in a broad range with the zone of 12000-12050 acting as stiff resistance points,” Milan Vaishnav, CMT, MSTA told Financial Express Online.