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.
Sensex and Nifty turned choppy after opening slightly higher on Wednesday.
The benchmark Sensex opened at 36,575.24 from its Tuesday’s close of 36,562.91. At 10.01 a.m., the Sensex was up 34.25 points or 0.09 per cent at 36,597.16.
Nifty PSU Bank and metal index recovered after heavy selling on Tuesday. The Nifty was up 4.90 points or 0.05 per cent at 10,802.80. Weak growth numbers released over the weekend resulted in a bruising stock sell-off on Tuesday, erasing 770 points from Sensex.
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Investors reacted to the data released on Friday which showed that India grew at its weakest pace since 2013 between April and June.
With heightened fear in the equity markets, poor monthly auto sales data and weak core sector data is also a concern.
(With input from agencies)
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