Sensex, Nifty Recover One-Third Of Monday’s Fall; I.T. Outperforms

Indian equity markets managed to recover a third of their worst fall in seven months that took place on Monday.

The S&P BSE Sensex ended 1% higher and above the mark of 46,000 at 46,006. The index recovered 900 points from the lowest point of the day, which stood at 45,112.

The NSE Nifty 50 index also gained 1% to end at 13,466. The index recovered nearly 300 points from the day's low of 13,192.

Both benchmark indices had a very volatile trading day where they oscillated in a broad trading range.

Among the sectoral indices, the I.T. and Pharma stocks outperformed in today's session. The Nifty I.T. index ended 3.4% higher, surging to a record high in the process. Three out of the top five Nifty gainers were I.T. stocks.

Drugmakers were the other major outperformers in today's session with the Nifty Pharma index ending with gains of 2.2%.

The Nifty Metal index gained 1.4% while Nifty Auto and the PSU Bank index ended with gains of close to 1% after recovering from their respective day's low.

Broader markets moved largely in-line with the benchmarks. The Midcap index ended 0.85% higher while the Smallcap index ended with gains of 0.8%.

India Volatility Index fell 5.2% in today's session to close at 22.

1,068 stocks on the NSE ended with gains while 818 reported losses.

• Benchmark indices continue to remain volatile; fluctuate between gains and losses
• Nifty down 0.55% at 13,256
• Sensex down 0.55% at 45,303
• Nifty Bank down 1.1% at 29,131
• Nifty Midcap index down 1.1%
• Nifty Smallcap index down 1.2%
• India Volatility Index up 3.3% to 24
• Nifty Media index remains the top sectoral laggard; down 2.8%
• Nifty PSU Bank index down 1.1% while Nifty Realty index down 1%
• Nifty I.T. index bucking the trend; up 0.6% while Nifty Pharma index up 0.3%
• Bharti Airtel is the top Nifty gainer; up 2%
• Tata Motors remains the top Nifty laggard; down 2.5%
• 1,462 stocks on the NSE decline while 387 trade with gains

• Among top gainers on Nifty 500 index
• Gains as much as 6.3% to Rs 1,299.7
• Snaps five-day losing streak
• Today's volumes are 15% below its 20-day average
• Relative Strength Index (RSI) of the stock at 60
• The stock is trading 10.1% higher than its 12-month Bloomberg consensus price target of Rs 1,150

• Benchmark indices see a volatile day of trade
• Nifty reverses nearly 300 points from the day's high of 13,446 to fall towards the day's low of 13,192. Currently down 11 points at 13,313
• Sensex reversed over 800 points from the day's high of 45,938 to the day's low of 45,140. Currently down 15 points at 45,540
• Nifty Bank down 0.8% at 29,228
• Nifty Midcap index down 1.5%
• Nifty Smallcap index down 2.2%
• India Volatility Index up 2% to 23.66
• Nifty Media index is the top sectoral laggard; down 2.7%
• Nifty PSU Bank index declines 2.5%
• Nifty Auto index down 1.2% while FMCG index declines 0.9%
• Nifty I.T. is the only sectoral gainer; up 0.5%
• HCL Technologies is the top Nifty gainer; up 1.7%
• Tata Motors is the top Nifty laggard; down 3.7%
• 39 out of the 50 Nifty constituents trade with losses
• 1,555 stocks on the NSE trade with losses while 237 are gaining

Indian equity markets have had a mixed start to today's trading session after having witnessed their biggest single-day drop in seven months.

The S&P BSE Sensex opened 24 points lower at 45,529 while the NSE Nifty 50 index opened 0.3% higher at 13,373.

Most sectoral indices have had a subdued start to the trading day. The Nifty Bank index is up 0.5% while Nifty I.T. and Nifty Pharma are up 0.3% and 0.4% respectively. Other indices are flat.

Broader markets have opened lower in today's session as well. The Nifty Midcap index is down 0.3% while the Smallcap index fell 0.6% at the start of trade.

680 stocks on the NSE trade with gains while 860 decline.

Good Morning!

Indian equity markets may rebound after posting their biggest single-day drop since May on Monday. Investor wealth worth more than Rs 6.5 lakh crore was eroded on Monday as the benchmarks ended nearly 3% down amid a new Covid-19 strain in the U.K.

The fall even offset all the gains made by the benchmarks during the last six trading sessions.

But futures are pointing towards a gap-up opening for India's markets on Tuesday. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 1.1% to 13,403 as of 8:00 a.m.

Sentiment across the Asia Pacific is subdued as most Asian equities are trading lower. Japanese markets are underperforming their peers.

Futures on the Dow Jones are currently trading 40 points lower. The index ended little changed on Monday.

West Texas Intermediate crude fell 0.3% to $47.81 per barrel, while gold rose 0.3% to $1,881.58/Oz.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.