Share market Highlights: The domestic stock markets made a smart recovery on Wednesday afternoon, recovering more than 639 points from the day’s lows. The 30-share Sensex closed 179.79 points higher to 35,649.94, while the Nifty closed above the 10,700-mark. The recovery in the indices was led by bluechips Bharti Airtel and HDFC twins. Bharti Airtel closed 4.2% higher at Rs 322 on BSE, while HDFC Bank and HDFC shares gained by more than 2% each. Earlier, the Sensex had plunged 459 points to intra-day low of 35,010.82, while the Nifty was trading below 10,550 level. Yes Bank share price plunged by nearly 4% to Rs 174.25.
Earlier, President Donald Trump’s attacks on the Federal Reserve spooked the stock market on Christmas Eve, and efforts by his Treasury secretary to calm investors’ fears only seemed to make matters worse, contributing to another day of heavy losses on Wall Street on Monday. He had also ruled out an end to the partial government shutdown till the Congress approve funds for building a wall along the Mexican border to prevent entry of illegal immigrants.
The major stock indexes fell more than 2 percent Monday, nudging the market closer to its worst year since 2008. Stocks are also on track for their worst December since 1931, during the depths of the Great Depression, Reuters reported. We bring to you LIVE updates.