Sensex ends volatile day up 21pts; The PSB index jumps 3%, Zomato 20%


Stock Market Highlights: Benchmarks rose for a fifth straight day, albeit amid volatility, as losses from twins HDFC, ICICI Bank, Infosys, L&T and Bharti Airtel nearly balanced Kotak’s gains Bank, State Bank of India (SBI), Hindustan Unilever (HUL), Asian Paints and Bajaj Finance.

After remaining around 250 points lower for much of the day, the S&P BSE Sensex rebounded 583 points from lows to hit a high of 58,328 during the day. The 30-pack index eventually closed at 58,136, up 21 points or 0.04%. The Nifty50, for its part, recovered from lows of 17,216 to end at 17,345, up 5 points or 0.03%.

In the broader market, the BSE MidCap and SmallCap indices rose as much as 0.5%. On a sector basis, the Nifty PSU Bank Index jumped 2.7%, while the Nifty Realty Index fell 1.7%.

BS Special :: What’s on the REIT buy list?

The banks, information technology, capital goods and automotive sectors could be on the radar of foreign portfolio investors as they again turn to Indian equities after a gap of about nine months, analysts said. While most analysts believe that the worst may be over for FII/REIT sales – and therefore stock markets – they caution against intermittent selling based on macroeconomic and geopolitical developments and the reaction policy makers. READ MORE

Previous Mixed economic data means bulls and bears both have a strong case
Next The corporate bond market didn't get the recession memo