Market witness sharp rebound; Sensex, Nifty end flat
Market witnessed on Wednesday sharp rebound amid buying in heavyweights and IT, oil and gas, FMCG stocks.
Market witnessed on Wednesday sharp rebound amid buying in heavyweights and IT, oil and gas, FMCG stocks.
At close, the Sensex was up 234.12 points or 0.30% at 78,199.11, and the Nifty was up 91.85 points or 0.39% at 23,707.90.
At close, the Sensex was down 720.60 points or 0.90 per cent at 79,223.11, and the Nifty was down 183.90 points or 0.76 per cent at 24,004.75.
The domestic benchmark indices opened lower on Tuesday as selling was seen in IT, realty, auto, financial service, FMCG, media and private bank sectors on Nifty.
The stock market ended higher on Friday, driven by gains. The domestic market witnessed low volatility in the absence of fresh triggers and traded on a positive note throughout the session.
Sensex opened the day at 72,396.97 against the previous close of 72,831.94 and traded in the negative territory throughout the session. The Nifty 50 opened at 21,947.90 against the previous close of 22,096.75
The Industrial Products sector emerged as the top performer, welcoming 48 new entrepreneurs and witnessing a staggering 147 per cent increase in cumulative wealth.
The rupee depreciated 35 paise to settle at an all-time low of 83.48 against the US Dollar. Forex traders said foreign fund outflows also weighed on the local unit.
This led to a relief rally in the global equity markets, serving as a major boost for midcap and smallcaps
The rally in the domestic market was after the US Federal Reserve maintained its projection of three rate cuts this year, boosting investor sentiment.
