Mid-day Mood: Markets recover to trade higher, NIFTY50 above 22,500, SENSEX gains over 200 points by IT and banking stocks
Upstox
2 min read • Updated: April 3, 2024, 1:06 PM
Summary
Indian markets opened lower in line with negative global markets. However, later recouped from early losses to trade positive at 12:00 pm. While the broader indices continue their recovery rally
Benchmark indices posted a smart recovery to trade in green on Wednesday. NIFTY 50 recoup early morning losses to trade 60 points higher at 22,513 while the BSE SENSEX is trading 205 points higher at 74,108.
The recovery in the markets is largely led by banking and IT stocks like HDFC Bank (+1.0%), TCS (+2.0%), HCL Tech (+1.17%) and Axis Bank (+0.6%). The overall market movement is range bound hovering around key levels of 22,400 on NIFTY and 74,000 levels on SENSEX.
On the sectoral front, NIFTY IT (+1.2%) and Media (+1.1%) are top sectoral gainers in the mid-market session. NIFTY Realty (-1.5%) and FMCG (-0.2%) are top sectoral losers.
The broader indices continue to outperform benchmark indices on Wednesday as well. The NIFTY Midcap 100 is up 0.5% higher at 49,764 levels near to it's all time high levels of 49,780. The NIFTY Smallcap 100 is also trading higher 1% crossing the 16,000 mark on the index.
The top 3 gainers on the index are Shriram Finance (+2.8%), TCS(+2.1%) and Hindalco (+1.8%). While Nestle India (-2.3%), HDFC Life (-1.4%) and Bajaj Auto (-1.2%) were the top 3 losers at 12:45 pm.
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