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 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.
BSE Sensex is trading at 72,099 points, down 389 points on Friday as domestic equities continued their losing spree amid escalation in Middle East tensions.
The BSE Sensex is up 42 points and trading at 72,986 points on Thursday. However, tensions in the Middle East and a hawkish stance by the US Fed are likely to weigh on the stock markets, say analysts.
BSE Sensex is down by more than 300 points on Tuesday as geopolitical factors continue to weigh on the markets.
This is for the first time ever that the market capitalisation of BSE-listed companies has gone past the coveted Rs 400 trillion mark.
Consequently, India 'VIX', or the volatility index- the market expectation of volatility over the near-term - closed sharply higher. The VIX closed on Tuesday at 18.60, after it had surged nearly 12 per cent in a single session.
Punjab National Bank which will be merged with the Oriental Bank of Commerce and United Bank of India, fell over 7 per cent, the most among the state-run banks constituting the PSU Bank Nifty index.
At 9.32 a.m., the Sensex was down 402 points at 36,930.66. The benchmark Sensex opened at 37,181.76 from its previous close of 37,332.79.
The debt-ridden realty firm has appointed Abhay Narayan Manudhane as the interim resolution professional (IRP) to run the insolvency proceedings. HDIL's downfall is a pointer to the crisis the real sector is going through.
In the previous session, the BSE barometer ended 382.91 points, or 1.02 per cent, lower at 37,068.93, and the Nifty shed 97.80 points, or 0.89 per cent, to finish at 10,948.30.
