Market recovers from its lows, Metal records sharp gain
Both the benchmark indices closed the session with positive gains experiencing a notable recovery from its lows on Tuesday.
Despite negative global cues, a worrying macro-economic situation and mixed corporate earnings, the key Indian equity indices on Monday managed to trade in the green with the Sensex up 50 points.
The NSE’s Nifty50 also traded slightly above the key 10,300-mark during the afternoon session of the trade.
Healthy gains were witnessed in the finance and banking sectors whereas telecom, oil and gas were down over one per cent.
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The Sensex opened at 34,689.39 points from its previous close of 34,315.63 points.
It shuttled 430 points, touching a high of 34,748.69 points and a low of 34,317.91 points, indicative of the volatility in the market.
Around 13.40 p.m., it traded at 34,364.24 points up 48.61 points or 0.14 per cent.
The NSE Nifty50 traded at 10,316.20 points during the afternoon trade session, up 12.65 points and 0.12 per cent.
HDFC Bank gained 1.55 per cent, trading at Rs 1,996.25 a share (at 12.35 p.m.) from its Friday’s close. The lending major on Saturday had reported a 20.6 per cent increase in its net profit during the quarter ended September 30.
Prominent companies declaring their results later in the day are Asian Paints, Glaxosmithkline Pharma, Hindustan Zinc and Welspun India.
Asain Paints was trading at Rs 1,232.45 a share down 0.44 per cent from its Friday’s close of 1237.95.
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