The S&P BSE Sensex and NSE Nifty 50 indexes staged a strong recovery from intraday low levels in afternoon trading on the back of buying in information technology heavyweights like Infosys, Tata Consultancy Services, HCL Technologies and Tech Mahindra. The Sensex rose over 800 points from the day’s lowest level and Nifty 50 index surpassed its important psychological level of 13,400.
As of 2:09 pm, the Sensex was up 234 points at 45,789 and Nifty advanced 64 points to 13,399.
Seven of 11 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty Media index’s 1 per cent decline. Financial services, FMCG, Private Bank and Realty indexes were also trading lower.
On the other hand, Nifty IT index was top sectoral gainer, up 2 per cent. Metal, pharma and PSU banking shares were also witnessing buying interest.
Mid- and small-cap shares were witnessing a mild selling pressure as Nifty Midcap 100 and Nifty Smallcap 100 indexes declined 0.4 and 0.2 per cent each respectively.
Adani Ports was top Nifty gainer, the stock rose 3.35 per cent to Rs 459. HCL Technologies, Bharti Airtel, Tech Mahindra, Infosys, Larsen & Toubro, Power Grid, GAIL India, Sun Pharma, Divi’s Labs and JSW Steel were also among the gainers.
On the flipside, Bajaj Finance, ONGC, Hindalco, Tata Motors, UltraTech Cement, Maruti Suzuki, Reliance Industries, Grasim Industries, HDFC and ITC declined 0.4-1 per cent.
The overall market breadth was negative as 1,650 shares were declining while 1,149 were advancing on the BSE.