Sensex, Nifty Stage Sharp Recovery Led By Gains In Metal Shares


The S&P BSE Sensex and NSE Nifty 50 Indexes staged a sharp recovery on Wednesday after posting the worst day of August in the previous session after Washington delayed tariffs on some Chinese imports, bringing some relief to global markets rattled by a bruising trade conflict. The Sensex surged as much as 515 points and the Nifty 50 Index briefly surpassed 11,050 led by gains in metal, energy and banking shares. Hopes of a stimulus package from the government to revive the economy also boosted the investor sentiment, according to analysts.
The Sensex ended 353 points or 0.96 per cent higher at 37,312 and the NSE Nifty 50 Index climbed 104 per cent or 0.95 points to close at 11,029.

All the 19 sector gauges compiled by BSE barring the S&P BSE Healthcare Index ended higher led by the S&P BSE Metal Index’s 2.7 per cent gain.

Oil & Gas, capital goods, bankex, utilities, telecom and finance sector gauges also rose between 1 and 2.5 per cent each.

Buying interest was broad-based in today’s session as the S&P BSE 500 Index rose 0.8 per cent.

UPL, Vedanta, Bajaj Finserv, Tata Steel, Zee Entertainment, Yes Bank and Grasim Industries were among the top Nifty gainers, up between 3.6-4.75 per cent each.

On the flipside, Sun Pharma was top loser, the stock fell 5 per cent to Rs. 417.50 after its net profit rose 31 per cent to Rs. 1,387 crore in June quarter.

Indiabulls Housing Finance, Wipro, Coal India, Dr Reddy’s Labs, Britannia Industries and Kotak Mahindra Bank were also among the losers.

The overall market breadth was neutral as 1,298 shares closed higher while 1,142 cosed lower on the BSE.

Source By NDTV


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