The equities markets witnessed volatile trading on Monday with the benchmark Sensex rebounding 877 points from the day’s low on good buying support in IT, power and pharma stocks.
There was good buying support in IT stocks. Tech Mahindra surged 3.4 per cent. TCS gained 0.73 per cent. Infosys and Wipro also closed in the positive.
The markets started the week on a negative note with benchmark indices opening the trade deep in the red.
The 30 stock S&P Sensex of the Bombay Stock Exchange opened sharply down at 56,948.33 points and slumped to a low of 56,543.08 points in the early morning trade.
There was good buying support in the afternoon session. Sensex ended the day at 57,420.24 points, 0.52 per cent or 295.93 points higher from its previous session’s close at 57,124.31 points. The Sensex touched a high of 57,512.01 points in the intra-day, this is 968.93 points higher from its intra-day close of 56,543.08 points.
The broader Nifty 50 of the National Stock Exchange ended the day 0.49 per cent or 82.50 points higher at 17,086.25 points when compared with its previous session close at 17,003.75 points.
Earlier the Nifty 50 also opened deep in the red at 16,937.75 points and slumped further to 16,833.20 points in the intra-day. Buying support in IT, power and pharma scrips helped the rebound in the index. The Nifty 50 touched a high of 17,112.05 points.
Tech Mahindra 3.40 per cent higher at Rs.1782; Dr Reddy’s Laboratories 1.95 per cent higher at Rs.4729.50; Power Grid Corporation 1.60 per cent higher at Rs.206.50; Kotak Bank 1.56 per cent higher at Rs.1775.55; Sun Pharma 1.16 per cent higher at Rs.794.40; ICICI Bank 1.14 per cent higher at Rs.735.75 and HDFC 1.02 per cent higher at Rs.2559.80 were among the major Sensex gainers.
Only six of the 30 stocks that are part of Sensex closed in the red. IndusInd Bank closed 0.55 per cent down at Rs 856. Asian Paints 0.44 per cent down at Rs 3273.80; Maruti Suzuki 0.32 per cent down at Rs 7293.50 and Bharti Airtel 0.23 per cent down at Rs 675.50 were among the major Sensex losers.