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Markets Update: Sensex, Nifty recover intraday losses, trade in green; Pharma stocks lead the surge
The domestic markets are trading in the green in volatile trade on Monday. The benchmark indices Sensex and Nifty50 recovered intraday losses eventually to gain around 400 points and above the 17100-mark, respectively. Pharma stocks are surging for the second straight aiding most the market.
At around 01:30 pm, the BSE Sensex is up 421.87 points or 0.74 per cent to 57529.02, and the Nifty50 up 95 points or 0.56 per cent to 17,121.4-level intraday. While the broader markets underperformed benchmark indices as both the mid and small-cap declined by around 0.6 and 2 per cent intraday.
As many as 6 stocks are in the green, and 44 in the red on the Nifty50 intraday today. Adani Ports and JSW Steel slipped most by around 7.5 per cent, followed by ONGC up over 7 per cent. Similarly, BPCL, IndusInd Bank, NTPC each down between 6-7 per cent intraday today.
On the contrary, defensive stocks such as Cipla gained most by around 8 per cent, followed by Dr Reddy’s up over 3 per cent and Divis lab up around 3 per cent. IT heavyweights such as TCS gained over 2 per cent, followed by HCL Tech by over 1 per cent intraday today.
The majority of the indices are in the red, except for IT, metal, bank, and financials. Nifty IT gained over 1 per cent, followed by marginal gain in Nifty Bank, financials and metal indices. Dragging the broader markets most, Nifty Realty and Media slumped most by over 1 per cent intraday today.
(Disclaimer: The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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