Sensex, Nifty Recover From Volatile Start, Aided By IT, Financials: Mid-Day Market Update
Among the Nifty 50 constituents, 33 stocks rose, while 17 fell in the afternoon trade.
India's stock benchmarks shook off a volatile start and advanced, as gains in banking, information technology, energy and FMCG stocks offset losses in capital goods, telecom, consumer durables and realty.
The Sensex gained nearly 300 points to 59,145.85, while the Nifty 50 rose 0.54% to 17,625.15 as of 1 p.m.
Among the Nifty 50 constituents, 33 stocks rose, while 17 fell. Mahindra & Mahindra Ltd., Bajaj Finance Ltd., Adani Ports & Special Economic Zone Ltd, SBI Life Insurance Co. and State bank of India were among the top gainers. Tata Motors Ltd., Cipla Ltd., Tata Steel Ltd., Asian Paints Ltd. and Britannia Industries Ltd. were the top losers.
The broader indices underperformed their larger peers, with the mid-cap index losing 0.3% and the small cap rising 0.2%. Ten of the 19 sectoral indices compiled by the BSE declined.
The market breadth was skewed in favour of the bulls. About 1,771 stocks rose, 1,724 fell and 135 remained unchanged.