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.
Key Indian equity indices on Monday opened on a lower note as investors booked profits in metals, capital goods, oil and gas, and banking stocks.
At one point, the BSE Sensex dropped over 100 points.
Around 9.20 a.m., the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 34,053.95 points, traded at 33,919.33 points — down 91.43 points or 0.27 per cent from its previous close.
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The BSE market breadth was bearish as 806 stocks declined as against 487 advances.
On the the National Stock Exchange, the wider Nifty50 edged lower by 47.15 points or 0.45 per cent to trade at 10,405.15 points.
On Friday, the equity indices closed in the negative territory as heavy selling pressure in banks, along with rising crude oil prices, dampened investors’ risk-taking appetite.
The NSE Nifty50 declined by 93.20 points or 0.88 per cent to close at 10,452.30 points, while the BSE Sensex closed at 34,010.76 points — down 286.71 points or 0.84 per cent.
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