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.
It turned out to be a roller-coaster ride on Thursday with the benchmark indices ending lower for the second consecutive session at the time of closing bell on Thursday.
Sensex was down 247.78 points or 0.38% at 65,629.24, and the Nifty was down 46.40 points or 0.24% at 19,624.70.
On Thursday, about 1,810 shares advanced, 1759 shares declined, and 129 shares unchanged. After a tepid opening, the index gradually began to recover its losses and at one point in time it was in green.
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Bajaj Auto, LTIMindtree, Nestle India, Hero MotoCorp and UltraTech Cement remained the top gainers remained the top gainers for the day, while Wipro, Tech Mahindra, UPL, Bharti Airtel and Hindalco Industries were among major losers on the Nifty.
On the sectoral front, auto was the top performer while metal and energy corrected by over 0.50%. Bank, metal, power, realty, oil & gas, and pharma down 0.3–0.9%.
The BSE Midcap and Smallcap indices ended on a flat note. Quick recovery from the lower levels helped the Midcap and Smallcap to outperform their frontline peers.
Indian rupee ended marginally higher at 83.24 per dollar versus previous close of 83.27. The rupee’s decline was triggered by a weak tone in the domestic markets and a rise in the US dollar.
FII selling also weighed on the domestic currency.
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