Sensex, Nifty Snap Four-Day Losing Streak Aided By Reliance, Infosys
India's stock benchmarks snapped a four-day losing streak, aided by gains in information technology and energy stocks, after fluctuating between gains and losses for most of the session.
The S&P BSE Sensex rose 0.20% to 57,901.14. The NSE Nifty 50 also advanced by similar magnitude to 17,248.40. Both the indices rose nearly 1% in intraday trade before erasing the losses in a volatile session. Bajaj Finance Ltd. had the largest increase, rising 2.7%. Today, 25 of 50 shares rose, while 25 fell.
The broader indices underperformed their larger peers with both S&P BSE MidCap and S&P BSE SmallCap shedding nearly 0.7%. Fourteen of the 19 sectoral indices compiled by the BSE Ltd. declined with S&P BSE Power, Utilities losing 1%. On the flipside, S&P BSE Energy, Information Technology and Teck gained 1%.
The market breadth was skewed in the favour of bears. About 1,509 stocks advanced, 1,842 declined and 102 remained unchanged.
"Markets managed to end marginally higher amid volatility, taking a breather after the recent fall. After the initial uptick, the benchmark drifted lower and retested the previous session’s low. However, recovery in the select index majors in the final hours helped the index to pare losses and end in the green", Ajit Mishra, VP - Research at Religare Broking Ltd. wrote in a note, and added "as all the major events are over now, we feel the performance of the global markets would be critical in days to come. At the same time, we expect the buzz to continue in the primary market. Among the sectors, only the IT pack looks decisive to us while others are witnessing mixed trends".
Sensex, Nifty Poised To Snap Four-Day Losing Streak
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Source: Exchange Filing
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