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Nifty recovers 200 points from intra-day lows; IT continues outperformance | Closing Bell
Indian equities erased all the intraday losses with Nifty back above 23,500. TCS, Infosys, HCL Tech, Tech Mahindra, Trent are among top gainers on the Nifty, while losers are NTPC, Power Grid Corp, Cipla, Dr Reddy's Labs and L&T. Among sectors IT index up 4%, while auto, metal, Consumer Durables, realty up 0.5% each. However, pharma, healthcare, power, media, energy down 0.5-1%. Nifty Midcap and Smallcap indices down marginally. Catch Lovish Darad in conversation with Market Experts.
Bank shares snap previous day's fall to rise up to 3%; ICICI, HDFC Bank lead gains
Benchmark indices Sensex and Nifty advanced up to 1 percent in a broad-based rally led by financial stocks.
Live: Nifty off 200 pts from day's low; Brent nears $100/bbl | Closing Bell
Indian markets staged a sharp recovery from intraday lows, with the Sensex recovering nearly 700 points and the Nifty clawing back over 200 points. Despite the rebound, IT stocks remained under pressure, while auto and PSU banks outperformed. Investors continued to track rising oil prices, with Brent crude nearing the $100 per barrel mark. Catch Lovish Darad in conversation with Market Experts.
Bank Nifty falls over 2% as crude-driven inflation worries weigh; ICICI Bank, HDFC Bank among top Nifty losers
The weakness in banking stocks reflects macro concerns arising from surging crude oil prices amid the escalation of the Middle East conflict. Elevated crude oil prices have reignited inflationary concerns, stoking fears of tighter monetary policies and delay in interest-rate cuts by central banks.
Taking Stock: Markets rebound; Nifty reclaims 24,150, Sensex jumps 600 pts
Among the top gainers on the index were Maruti Suzuki India, Coal India, Tech Mahindra, ITC Limited, and Reliance Industries. On the downside, InterGlobe Aviation, Dr. Reddy's Laboratories, NTPC, ICICI Bank and Bajaj Finserv were among the key laggards.