Stock market bounces back; banks, metals shine
Sensex was up 599.34 points, or 0.83 per cent at 73,088.33, while the Nifty was up 151.20 points or 0.69 per cent at 22,147.
Indian equity benchmark registered their biggest single-day fall since September 3 led by declines in HDFC, Reliance Industries, State Bank of India, HDFC Bank, Larsen & Toubro, and IndusInd Bank.
The S&P BSE Sensex ended 0.7 percent lower at 37,123.31 and the NSE Nifty 50 ended 0.65 percent lower at 11,003.50. The broader markets represented by the NSE Nifty 500 Index closed 0.46 percent lower.
The benchmarks opened lower and extended declines in afternoon trading as oil & gas, banking, and financial services shares came under selling pressure. In the intraday deals, Sensex fell as much as 356 points and the Nifty 50 index fell below important psychological level of 11,000 to touch an intraday low of 10,968.20.
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Thirteen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Oil & Gas index’s 1.6 per cent decline. S&P BSE, BSE Bankex, Auto, Capital Goods, Realty, Finance, and Energy indexes also dropped between 0.7-1.2 per cent.
On the other hand, S&P BSE Consumer Durables index was top gainer, up 1.3 per cent. The mid- and small-cap shares ended mixed but outperformed their larger peers. The S&P BSE MidCap index fell 0.4 per cent while the S&P BSE SmallCap index rose 0.6 per cent.
Oil refiners and retailers were among the worst hit in today’s session after a drone attack on Saudi Aramco’s oil facilities sent crude prices surging nearly 20 per cent intraday, its biggest single-day gain since 1991.
Shares in state-run oil companies Bharat Petroleum, Hindustan Petroleum and Indian Oil fell as much as 6.97 per cent, 7.31 per cent and 4.08 per cent respectively. Private sector refiner Reliance Industries also fell 3.02 per cent.
(With input from agencies)
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