New Delhi: A smart intraday rebound helped equity benchmarks recover their initial losses on Friday. Indian markets witnessed a pause in their bearish tone led by a rally in pharma and IT stocks. The benchmark Sensex and Nifty 50 traded higher led by positive global cues as bond yields dive. During initial trading sessions, Sensex has touched and intraday high of 52,586.41 and Nifty 50 touched the day’s high of 15,761.50.
At the close, the S&P BSE Sensex index stood at 52,344.45, up 21.12 points or 0.04 per cent. The 30-pack index plunged 722.22 points during the session before fully recovering those losses.
During trading sessions, metals stocks were hit hard on China’s plan to sell metal reserves to check recent price hikes.
The Nifty50 gyrated in a wide range between 15,451 and 15,761 before settling at 15,683.35, down 8 points or 0.05 per cent. With this, the 50-scrip benchmark took its losses for three consecutive sessions.
Top bulls on NSE were – Adani Ports surging 1.6% followed by Infosys and Bajaj Finserv soaring 1% and 0.9%. Divis Lab and Sun Pharma jumped by 0.8% and 0.7% respectively.
Adani group stocks made a comeback
Adani Group stocks made a comeback on an otherwise weak day for Dalal Street. Adani Enterprises surged 8.76 percent to Rs 1487.85 and Adani ports gained 7.39 percent to Rs 694.60 even as the other four group stocks marked less momentum during the sessions.
On the other way, Sectoral indices such as power, metals and oil & gas dropped up to 2.5 percent. Midcap and small cap indices fell up to 0.9 percent.