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.
Supported by positive Asian peers and higher closing of US stocks, domestic equity markets were trading in the positive zone in the second hour of trade on Thursday.
At 10.55 am, the Sensex was trading 128 points or 0.43 per cent higher at 29,292 while the Nifty50 was trading 40 points or 0.45 per cent higher at 9,071.
Broader markets outperformed the key benchmark indices, BSE Midcap and Smallcap indices surged 0.9 per cent and 1 per cent respectively.
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All the BSE sectoral indices were trading in the positive zone with Oil & Gas index leading the gains, up 1.5 per cent. Capital Goods (1.4 per cent), Realty (1.2 per cent), Power (1 per cent) and Consumer Durables (1 per cent) indices were other notable gainers.
Top gainers in the Sensex-30 pack: Gail (up 2.1 per cent), Tata Motors (up 1.8 per cent), NTPC (up 1.4 per cent), Hero Motocorp (up 1.4 per cent) and L&T (up 1.4 per cent).
Top losers in the Sensex-30 pack: ITC (down 0.5 per cent), HUL (down 0.4 per cent), HDFC Bank (down 0.1 per cent), TCS (down 0.1 per cent) and M&M (down 0.1 per cent).
In the Asian markets, Japan’s Nikkei 225 Index jumped 0.2 per cent, Singapore’s Straits Times Index gained 0.1 per cent, Hong Kong’s Hang Seng index was trading flat with a positive bias, Korea’s KOSPI index shined 0.3 per cent and China’s Shanghai Composite Index inched up 0.1 per cent.
Unites States’ Nasdaq closed 0.5 per cent higher and the S&P 500 inched up 0.2 per cent. Dow Jones Industrial Average closed flat with a negative bias.
Back home, the Rupee was trading six paise higher at 65.38 against the US Dollar.
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