Nifty bounces back; tech, banks move higher
MUMBAI : Benchmarks staged a smart recovery as investors took positions at lower levels. Broader markets which fell sharply on account of margins pressure were also off intraday lows.
At 1 pm; National Stock Exchange’s Nifty was at 5816.65, up 16.90 points or 0.29 per cent. The broader index touched intraday low of 5690.35 and high of 5838.50.
BSE Midcap Index was down 2.35 per cent and BSE Smallcap Index slipped 3.52 per cent.
Amongst the sectoral indices, BSE Realty Index fell 4.85 per cent, BSE Power Index slipped 1.32 per cent and BSE FMCG Index was down 1.27 per cent. BSE Bankex was up 1.56 per cent.
Nifty gainers were SAIL (3.20%), HCL Technologies (3.18%), State Bank of India (2.74%), ICICI Bank (2.45%), Cipla (2.43%), Tata Consultancy Services (2.22%), Punjab National Bank (1.82%), IDFC (1.74%).
Losers included JP Associates (-9.17%), Reliance Infra (-4.05%), DLF (-4.03%), Reliance Capital (-3.91%), Suzlon (-3.54%), Sesa Goa (-3.41%), Sterlite Industries (-3.26%) and RCom (-2.63%).
Market breadth was almost flat on the Nifty with 27 declines against 23 advances.
The Economic Times