Sensex, Nifty Rebound From Day's Lows; L&T, Bharti Airtel Top Gainers
The benchmark indices have rebounded from intra-day lows in early-noon trading on Friday on the back of gains in L&T and select pharma shares. The BSE Sensex has recovered nearly 400 points from the lows of the day and is trading at 56,056.25, higher by 111 points or 0.20 per cent and the NSE Nifty is at 16,685.20, up 48.89Â points or 0.30 per cent. The broader markets are outperforming the benchmark indices, with the BSE Midcap index and BSE Smallcap index gaining 0.6 per cent each.Â
The rupee gained 7 paise to 74.15 against the US dollar in early trade on Friday amid a muted trend in the domestic equities. At the interbank foreign exchange, the rupee opened at 74.17 against the dollar, then inched higher to 74.15, up 7 paise over its previous close.
On the stock-specific front, L&T has zoomed nearly 4 per cent to top the gainers' list on the BSE. Ultratech Cement, Bharti Airtel, Dr Reddy's and TCS have also gained 1.3 per cent each.
On the other hand, select financial stocks are trading weak. HDFC, IndusInd Bank and ICICI Bank have shed around a per cent each on the BSE.
Among stocks in the news, Spicejet shares soared more than 2 per cent on the BSE after the airline entered into a settlement with Avolon, a major lessor of MAX aircraft, allowing for return of the 737 MAX aircraft to service after a gap of two years.
The BSE market breadth is strong. Out of 3,198 shares trading on the BSE, there are 1,804 advancing shares as against 1,234 declines.
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