Market snaps eight-day losing streak, ends marginally higher
At close, the Sensex was up 57.65 points or 0.08% at 75,996.86, and the Nifty was up 30.25 points or 0.13% at 22,959.50.
Benchmark indices ended marginally lower after yet another volatile session on Tuesday. The Sensex fell by 29.47 points or 0.04% to 75,967.39, while the Nifty 50 declined by 14.20 points or 0.06% at 22,945.30.
The BSE Midcap index ended down 0.2%, rising sharply from early lows, while the Smallcap index closed 1.7% lower.
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The Nifty 50 rebounded by 137 points during the day and registered a slight drop of 0.06% at the close, while the Sensex recovered 491 points from its intraday low and ended with a modest gain of 0.04%.
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The top gainers in the Nifty included NTPC (2.93%), Tech Mahindra (2.41%), Wipro (2.24%), Power Grid Corporation of India (1.42%), and Oil & Natural Gas Corporation (1.26%).
On the losing side were Indusind Bank (2.30%), Trent (1.94%), Ultratech Cement (1.58%), Bharat Electronics (1.57%), and Mahindra & Mahindra (1.48%).
The Bank Nifty concluded the day at 49,258.9, having reached an intraday high of 49,328.55 and a low of 48,814.95.
Among sectors, Pharma, FMCG, Media, PSU Bank, and Consumer Durables fell between 0.5-1%, while IT, Power, and Oil & Gas indices rose by 0.5% each.
On BSE, over 780 stocks touched their 52-week low, including Carborundum Universal, Swan Energy, Data Patterns, Sun Pharma Advanced, Mishra Dhatu Nigam, KIOCL, Birla Corp, Natco Pharma, MMTC, BEML, BHEL, Tanla Platforms, JBM Auto, AU Small Finance, Elgi Equipments, Sterling Wilson, Sammaan Capital, UCO Bank, among others.
Among the individual performers, the shares of Borosil Renewables staged a sharp rebound and were locked in the 5% upper circuit after a three-day losing streak.
Max Healthcare shares saw a gain of over 3%, marking the third consecutive session of gains.
The shares of Gillette India surged over 16% as investors reacted positively to the company’s strong Q3 earnings.
Welspun Enterprises shares dropped approximately 7%, reaching a 16-week low.
Shares of Bharat Heavy Electricals tanked 5% after Ducon Tech initiated an arbitration against the firm for a claim of Rs 30 crore and other related interests.
Mixed cues from Asian markets led Indian indices to open on a quiet note and trade in a range, with investors cautious ahead of the FOMC meeting minutes.
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