Mumbai, Apr 8: Rubbishing aside the weak global cues benchmark indices ender higher for the day. The Sensex surpassed the 10,700 level while the Nifty closed above the 3,300 mark successfully. Broader indices outperformed the benchmark indices and kept the market breadth in favour of advances.
Realty, FMCG, infrastructure (barring BHEL), pharma, oil & gas, auto, IT and metal stocks witnessed buying interest. However, Reliance Communication, HDFC Bank, BHEL, Hindalco, M&M and Sterlite were weak.
The 30-share BSE Sensex surged more than 1,000 points in these five days and closed the day at 10,742.34, up 207.47 points or 1.97 per cent over previous close. It touched an intraday high of 10,778.11 and recovered over 570 points from day's low of 10,171.91.
The 50-share NSE Nifty shut shop at 3,342.95, up 2.65 per cent or 86.35 points, after hitting an intraday high of 3,357.05. It posted a rally of more than 300 points in these five days and today, it recovered nearly 194 points from the day's low of 3,149.25.
Markets bounce back, Nifty, Sensex in green
At 02:00 PM Indian markets bounced back and are showing smart recovery. The Sensex was trading at 10,528, down 6 points while the Nifty was trading at 3,266, up 10 points, at 14:07 hours IST. Broader indices - BSE Midcap Index was up 2 per cent and Small Cap Index jumped 3.4 per cent.
Buying in stocks like power, auto, FMCG, pharma, metal, select capital goods stocks and Reliance Industries are helping the markets to bounce back. However, ONGC, Bharti, Infosys, BHEL, SBI, ICICI Bank, Sterlite, DLF, Reliance Communications, HDFC Bank, HDFC and PNB were putting pressure on the markets.
Markets plunge; bank, oil slips
The Sensex was trading at 10,306, down 228 points and the Nifty was trading at 3,198, down 58 points, at 12:16 hours IST. However, broader indices - BSE Midcap Index was up nearly 1% and Small cap Index gained over 1.5 per cent.
Though the indices showed some recovery from the lows of the day, are witnessing heavy selling pressure. Leading markets south bound are stocks like ONGC, Bharti, Reliance Industries, SBI, Infosys, Reliance Communication, HDFC Bank, ICICI Bank, DLF, BHEL and TCS.
Indices tumble on weak global cues
The negative global cues pushed the Indian stock market indices to red in the opening trade on Wednesday, Apr 8. At 9:56 am, the Bombay Stock Exchange's Sensex was trading at 10,200, down 331 points and the National Stock Exchange's Nifty was trading at 3,159, down 96 points.
The CNX Midcap was down 92 points, to 3,494. About 97 shares advanced while 562 shares declined. Major losers in the opening trade are DLF, Axis Bank, Hindalco, Tata Steel, Suzlon, Unitech, ICICI Bank, PNB, Reliance Capital, Reliance Communication, SBI, Tata Motors, SAIL, Sterlite Industries, Infosys, TCS and Reliance Industries.
The profit booking was seen in banking, metals, real estate, oil & gas and capital goods stocks. Midcaps and small caps were also following the same trend.
Asian markets too are trading lower. Hang Seng went down over 4 per cent. Shanghai, Nikkei, Straits Times and Kospi lost 2-2.7 per cent. Taiwan Weighted fell 1.65 per cent.
The US markets declined nearly 2 per cent on Tuesday, Apr 7 as results season kicked off with Alcoa earnings.