Sensex, Nifty Turn Positive In Highly Volatile Trade Led By Gains In Bank, Financial Stocks

The overall market breadth was positive as 1,833 shares were advancing while 1,481 were declining on BSE.

New Delhi: The Indian equity benchmarks on Wednesday traded higher in afternoon deals amid a highly volatile trading session. The 30-share BSE Sensex pack was up 208 points or 0.35 per cent at 60,064 and the broader NSE Nifty moved 62 points or 0.35 per cent higher to 17,867.

Mid- and small-cap shares were mixed as Nifty Midcap 100 index was up 0.27 per cent and small-cap shares were trading 0.10 per cent lower.

“The Indian benchmarks made a cautious start, owing to mixed global cues and an increase in coronavirus infections around the world. Traders may focus on data that the country’s export shipments are expected to exceed $400 billion this fiscal year, according to reports. Some respite may come in the market as foreign institutional investors (FIIs) net bought shares worth Rs 1,273,86 crore, while domestic institutional investors (DIIs) net purchase shares worth Rs 532.97 crore in the equity market,” Gaurav Garg, Head of Research, Capitalvia Global Research Ltd told NDTV.

“Our research suggests that sustaining above the level of 17,600-17,700 (Nifty) is important levels to stay positive in the market. If the market sustained the level of 17,600-17,700, we can expect it to trade till the level of 18,000. If market unable to sustain the levels of 17,600-17,700, It may trade till the lower range of 17,300-17,500,” he added.

On the stock-specific front, Bajaj Finserv was the top Nifty gainer as the stock surged 4.99 per cent to Rs 17,989.80. Bajaj Finance, Kotak Mahindra Bank, JSW Steel and Indian Oil were also among the gainers.

On the flipside, Tech Mahindra, Wipro, HCL Tech and TCS were among the losers.

The overall market breadth was positive as 1,833 shares were advancing while 1,481 were declining on BSE.

On the 30-share BSE platform, Axis Bank, ICICI Bank, HDFC Bank, Asian Paints and Mahindra & Mahindra attracted the most gains with their shares rising as much as 2.97 per cent in afternoon trade.

NTPC, Sun Pharma, Reliance Industries and PowerGrid were among the laggards.

The benchmark BSE Sensex had surged 673 points or 1.14 per cent to close at 59,856 on Tuesday, while the broader NSE Nifty had settled 180 points or 1.02 per cent higher at 17,805.



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