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.
The market benchmarks extended their gains into the fourth consecutive session.
Over the past eightsessions, Nifty has retraced only 61 per cent of preceding seven sessions, highlighting a robust price structure.
Nifty slumped to 21,530.20 but rebounded to end the day 97 points, or 0.44%, higher at 21,840.
Sensex and Nifty rose 0.6% each to 71,555 and 21,743, respectively. Broader markets, too, saw some respite after undergoing selling pressure as Nifty Midcap 100 and Nifty Smallcap 100 indices rose up to 0.3%.
The mid and small-cap indices dropped 1% each amid lack of directional cues and dashed hopes of an early rate cut by the Reserve Bank of India.
