Markets stage a bounceback: NIFTY50 and SENSEX back in green; midcap and small-cap indices recoup losses

In the volatile trading session, Indian equity markets came off from the day’s low levels in the early afternoon session and traded in the green. The broader market indices also recouped the majority of the early morning losses but continued to trade in red.

The SENSEX traded at 73,325.10, up 130 points after trading in a range of 72784.54 and 73649.72. Twelve stocks advanced on the index, while 18 stocks declined.

The few gaining sectoral indices on the BSE were TECK, up by 0.68%, and IT, up by 0.39%. Energy, down by 2.26%, Oil & Gas, down by 1.57%, Industrials, down by 1.26%, Metal, down by 1.26%, and Realty, down by 1.18%, were the top losing indices on the BSE.

Despite a sharp recovery from lower levels, the broader market breadth remains in favour of declines as only 700 stocks traded in green against 2149 in th red. Similary, 342 stocks were locked in lower circuit as compared to 12 in the upper circuit.

The NIFTY50 traded at 22140.75, up by 32 points or 0.22% after trading in a range of 22004.70 and 22261.55. There were 23 stocks advancing against 26 stocks declining on the index, while 1 stock remained unchanged.

The top gainers on Nifty were Ultratech Cement, up 2.77%, Eicher Motors, up 2.35%, Wipro, up 2.16%, Grasim Industries, up 2.13%, and Bharat Electronics, up 2.05%. On the flip side, Coal India is down 4.17%, Reliance Industries is down 3.09%, IndusInd Bank, is down by 2.63%, Bajaj Finserv, is down by 2.57%, and Bajaj Auto, is down by 2.25%, were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 629.97 points or 1.67% to 37,785.47, Jakarta Composite gained 253.1 points or 3.88% to 6,523.70 and Straits Times was up by 15.91 points or 0.41% to 3,911.61. On the flip side, Shanghai Composite weakened by 12.06 points or 0.36% to 3,308.84, Hang Seng declined 45.48 points or 0.2% to 22,895.84 and Taiwan Weighted was down by 296.93 points or 1.3% to 22,756.25.